JTI Malaysia Vows To Work With Govt To Flight Illegal Cigarette Trade

KUALA LUMPUR, April 26 (Bernama) -- JT International Bhd (JTI Malaysia), a member of the Japan Tobacco Group of Companies, together with the tobacco industry will continue to work closely with the government to enforce pragmatic and multi-pronged solutions to fight the illegal cigarette trade. JTI Malaysia Chairman Mohd Nadzmi Salleh said the illegal cigarette trade took away the shares from the legal cigarette business last year, which has affected the company's performance. "The environment is very competitive. I think that is one of the biggest contributors why we see a slight decline in our turnover over last year," he told reporters after the company's annual general meeting Thursday. At the AGM, JTI Malaysia announced its pre-tax profit had fell 8.2 per cent last year to RM164.3 million compared with RM178.9 million in 2010, while revenue dwindled by 0.6 per cent last year to RM1,197.8 million compared to RM1.205.1 million in 2010. (US$1=RM3.06) Mohd Nadzmi said the dip in pre-tax profit was due to lower sales volume, which was partially offsetted by higher net margins and lower marketing expenditure. Amidst the tough operating environment, JTI Malaysia maintained its share market at 19.8 per cent last year as per its market share in 2010. -- BERNAMA