Apr 30, 2021 / 08:00AM GMT
Naohiro Minami - Japan Tobacco Inc. - Executive VP, CFO & Representative Director
Good evening, and thank you for joining today's call relative to JT's 2021 first quarter results. I am Naohiro Minami, Chief Financial Officer of the JT Group.
First, let me explain the consolidated results from January to March. Adjusted operating profit at constant currency, the main indicator of our business performance, increased by 27.2% year-on-year, driven by strong momentum across our tobacco businesses.
This is largely above our projection for the period. In addition to the strong business momentum, contributing factors included the effects of the pandemic in the international tobacco business, such as demand growth in some high-margin markets derived from travel restrictions that continues through the entire 3-month period this quarter in contrast to just 1 month in the first quarter of fiscal 2020.
Our consolidated quarterly revenue was up year-on-year due to sales growth in the international tobacco business that outweighed the sales declines in Japanese domestic tobacco,
Q1 2021 Japan Tobacco Inc Earnings Call Transcript
Feb 14, 2024
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