Talk Money: May 31, 2016
It is World SmokeFree Day.
Governments around the world are raising tobacco taxes and introducing plain packaging. So what has this done to tobacco company profits?
The six tobacco giants collectively made US $44 Billion in global profits in 2013.
In New Zealand the biggest tobacco company, British American Tobacco, made a profit of $126 million last year. That was down from from $131 million a year earlier. But the trend has been for rising profits in recent years.
Cost cutting and price rises on some "premium" brands are helping tobacco companies around the world.
The tobacco giants are also enjoying rising sales in developing markets.