Table of Contents
Weekly News Summary ...........................................................4
Company Update .........................................................................................................4
Industry Update............................................................................................................4
Regulation & Tax Watch .............................................................................................5
Tobacco Calendar ....................................................................7
Unemployment Watch..............................................................8
Latest Published Research......................................................9
Lorillard Inc : Business Solid, FY Volume Outperformance Likely - ALERT
(27 Apr 2009).............................................................................................................10
British American Tobacco (M) Bhd : 1Q09 results slightly below estimates;
downgrade to Neutral (23 Apr 2009).........................................................................11
Philip Morris International : Robust start, headwinds to recede - ALERT
(23 Apr 2009).............................................................................................................16
Altria Group : Adjusting Divisional Forecasts, Maintain Full Year View
(23 Apr 2009).............................................................................................................18
KT&G Corp : First-quarter review (23 Apr 2009)...................................................28
Altria Group : Pricing Benefit Drives In-line Quarter - ALERT (22 Apr 2009) ....36