Aug 01, 2019 / 07:00AM GMT
Naohiro Minami - Japan Tobacco Inc. - CFO, Executive VP of Communications & Representative Director
I'm Naohiro Minami, Chief Financial Officer of the JT Group. Thank you for joining our conference. I'll start by covering the highlights of our consolidated financial results for the first half of 2019.
Please turn to Slide 3. Adjusted operating profit at constant FX, our main KPI, increased by 5.9% year-on-year. This robust growth was driven by pricing and volume gains, leading to 9.3% growth in the international tobacco business combined with cigarette pricing gains and reduced-risk products top line growth in the Japanese domestic tobacco business.
On a reported basis, adjusted operating profit declined 9.4% due to a negative FX impact, broadly in line with our initial full year assumptions. Operating profit increased by 3%. This is due to the onetime compensation gain related to the termination of exclusive license agreements for anti-HIV drugs in the Pharmaceutical business, which more than offset a decrease in profit from sales of real estate, an increase in amortization related
Q2 2019 Japan Tobacco Inc Earnings Call Transcript
Feb 14, 2024
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