Nov 01, 2019 / 07:30AM GMT
Naohiro Minami - Japan Tobacco Inc. - CFO, Executive VP of Communications & Representative Director
Welcome to the JT Group 2019 Third Quarter Investor Conference.
I am Naohiro Minami, Chief Financial Officer of the JT Group. I will explain the 2019 third quarter results.
My presentation today will contain some forward-looking statements, so I direct your attention to our safe harbor statements on Slide 2. I will start by covering the highlights of our consolidated financial results through third quarter of 2019. Please turn to Slide 4.
Adjusted operating profit at constant FX, our main KPI, increased by 3% year-on-year. This is driven by AOP growth in the international tobacco business offsetting the decline in the Japanese domestic tobacco and pharmaceutical businesses. On a reported basis, adjusted operating profit declined 11.6% due to currency headwinds.
In the first half of 2019, operating profit grew driven by the onetime compensation gains related to the termination of exclusive license agreements for anti-HIV drugs in the pharmaceutical business, fully
Q3 2019 Japan Tobacco Inc Earnings Call Transcript
Feb 14, 2024
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