Altadis on the "Path to Recovery"

Source from:  tobaccoreporter.com Spain, Friday, June 29, 2007 07/02/2007

Altadis' capacity for organic growth had not been exhausted and there was still much left to do, president and CEO, Antonio Vázquez, told a shareholders' meeting in Madrid yesterday. Referring to "last year's problems", Vázquez said, "the best proof that 2006 was a year of transition and that we have maintained our rhythm of growth is provided by the results that we achieved in the first quarter of this year, a period when we clearly took the path to recovery…" In his speech to the meeting, chairman, Jean-Dominique Comolli, said that Altadis had provided the information requested by the groups that had made indicative purchase proposals to the company and that the decision as to whether to present formal offers now lay in their hands. The meeting approved a dividend payment of €1.10 per share, which is 10% higher than last year's figure. Enditem