American Brands Inc.: The Old Greenwich, Conn.,...
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From Times Staff and Wire Reports
American Brands Inc.: The Old Greenwich, Conn., firm reported record 1989 profit of $631 million, a gain of 9% over 1988. Revenue totaled $11.9 billion, about the same as a year earlier. In the fourth quarter, earnings rose 34% to a record $172 million on revenue of $2.9 billion, down slightly from the year-ago period. American Brands has four core businesses--tobacco, distilled spirits, life insurance and office products. The firm attributed the results to increased competitiveness.
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