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Manufacturing > Tobacco
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Universal reports on challenging year

Universal reported net income for the fiscal year ended March 31, at $149.0 million or $5.25 per diluted share.

Net income increased on that of the previous year’s $132.8 million or $4.66 per diluted share. Segment operating income, which excludes certain one-off items, was $175.2 million, down by $57.6 million or 24.7 percent. The reduction in segment operating income was primarily attributed to weaker margins in Brazil from higher green-leaf costs, increased currency “remeasurement”...

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