Big tobacco contributes $1.7 bln to NZ government coffers in 2016 as sales grow

Mon, 12 Jun 2017

By Jonathan Underhill June 12 (BusinessDesk) - The government received a total of $1.7 billion in duty on tobacco sales in 2016 from the big three producers, British American Tobacco, Imperial Tobacco and Philip Morris, which all lifted sales in New Zealand last year. British American Tobacco Holdings (New Zealand), the biggest of the three, had sales of $1.4 billion in calendar 2016 and paid excise of $1.13 billion. Profit fell to $22 million from $344 million a year earlier, mainly reflecting a one-time gain a year earlier from the sale...

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