The Tokyo-based tobacco corporation, JT Group, has disclosed an increase in its first-quarter profit of 8.7%, rising to 157.3 billion yen from 144.7 billion yen in the previous year.
The company's operational profit rose by 4.6%, amounting to 215.8 billion yen. There was also a 1.5% increase in the adjusted operating profit, which stood at 226.7 billion yen.
The revenue saw an 11.3% boost, reaching 740.3 billion yen, up from 665.3 billion yen the previous year. This surge was a result of increased tobacco business as well as favorable currency fluctuations. Taking constant currency rates into account, the core revenue rose by 5.7% to 676.7 billion yen.
A 2.1% increase in total volume was reported, equating to 132.9 billion units. In particular, the company’s RRP volume saw a substantial growth of 25.2% year-on-year, largely driven by the HTS segment, which is the company's main investment focus.
In separate news, JT Group announced the appointment of Takayuki Yamaguchi as Senior Vice President and President of the Pharmaceutical Business. His tenure will start from July 1st, succeeding Muneaki Fujimoto, who will step down from the role on June 30th.
