Moody's has a positive outlook on European tobacco companies for the next 12-18 months, when the...

|By:, SA News Editor

Moody's has a positive outlook on European tobacco companies for the next 12-18 months, when the agency expects operating profits to grow 6%. Emerging-market growth and price inelasticity will continue to provide good cash flow and offset "declining sales volumes in mature markets and mounting regulatory pressures." (PR)