Cigarette maker Lorillard 2Q profit falls

Cigarette maker Lorillard says lower volumes and higher promotional costs drove its net income down 8 percent in the second quarter.

The maker of Newport, Maverick and True cigarettes says its cigarette volume fell less than a percent to 9.78 billion cigarettes but it still increased market share.

Last week, rivals Reynolds American and Altria Group reported declines in cigarette sales.

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