ENP Newswire -
Release date- 08052014 -
'We remain very confident in our ability to achieve a 6% to 8% growth in currency-neutral adjusted diluted EPS in 2014 as we expect our underlying business performance to deliver stronger second and third quarter adjusted diluted EPS growth rates, ex-currency. Although we anticipate continued improvement into the fourth quarter, we will, however, face a more difficult year-on-year comparison,' said
The company reaffirms its 2014 full-year reported diluted earnings per share (EPS) forecast to be in a range of
Excluding the unfavorable currency impact, at the then prevailing exchange rates, of approximately
This forecast includes a productivity and cost savings target of
The factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to these projections.
During his presentation,
'We remain committed to generously rewarding our shareholders through a combination of dividends and share repurchases. In September last year, we increased our dividend by a further 10.6%, bringing the cumulative increase since 2008 to 104.3%,' said
Matters put before the Meeting were: the nomination for election of ten nominees for director named in the company's proxy statement; the ratification of the selection of
An archived copy of the audio webcast of PMI's Annual Meeting of Shareholders will be available until
Forward-Looking and Cautionary Statements
This press release contains projections of future results and other forward-looking statements. Achievement of projected results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements.
Pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.
PMI's business risks include: significant increases in cigarette-related taxes; the imposition of discriminatory excise tax structures; fluctuations in customer inventory levels due to increases in product taxes and prices; increasing marketing and regulatory restrictions, often with the goal of reducing or preventing the use of tobacco products; health concerns relating to the use of tobacco products and exposure to environmental tobacco smoke; litigation related to tobacco use; intense competition; the effects of global and individual country economic, regulatory and political developments; changes in adult smoker behavior; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations; adverse changes in applicable corporate tax laws; adverse changes in the cost and quality of tobacco and other agricultural products and raw materials and the integrity of its information systems.
PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to produce products with the potential to reduce the risk of smoking-related diseases; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships or if it is unable to attract and retain the best global talent.
PMI is further subject to other risks detailed from time to time in its publicly filed documents, including the Form 10-Q for the quarter ended
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