Philip Morris Cos.: The New York tobacco...
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From Times Staff and Wire Reports
Philip Morris Cos.: The New York tobacco and food products company said 1989 earnings jumped 26% to $2.94 billion, while revenue surged 41% to $44.75 billion compared to the year before. The results included a $179-million pretax charge reflecting the cost of merging the company’s General Foods Corp. with Kraft Inc. and a $276-million gain from the sale of its investment in Rothmans International PLC. The firm attributed the improvement to the sharp gain in sales.
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