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Lorillard second quarter profit up
Written by David Horn   
Tuesday, 26 July 2011 11:09

(GREENSBORO) -- Lorillard, Inc. reported a second quarter gross profit of $599 million.  This compared to $542 million in the second quarter of 2010.

"Lorillard delivered strong second quarter results, despite the difficult macro-economic conditions," said said Murray S. Kessler, Chairman, President and Chief Executive Officer. "These results continue to demonstrate the fundamental strength of our brands and our organization.  We are particularly pleased with the impact of our new strategic growth initiatives, highlighted by the successful introduction of Newport Non-Menthol."

The Greensboro-based cigarette maker recorded net sales of nearly $1.692 billion in the second quarter of 2011. This compared to $1.520 billion in the second quarter of 2010, an increase of 11.3%.

 
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