For the socially irresponsible among us (myself included), a smoke is one of the few guilty pleasures we're still allowed, though under very controlled circumstances these days. However, that's not so much the case in the rest of the world.
Imperial Tobacco Group, the fourth largest tobacco distributor in the world, has a global distribution network of lower cost brands of cigarettes, tobaccos and cigars. And since they are not primarily exposed to the changing tastes and habits of the North American markets, they continue to see good growth. In the first quarter of this year they saw their operational profits up 11% and continue to pay a strong dividend.
Anyone unopposed to profiting from a societal ill, ITY continues to be a solid long term play.
$85.93 (05/10/07)
