Altria Sees Growth in 2009

Smoking is a great biz even in bad times for Altria (NYSE:MO)

Altria Group Inc. said Wednesday that it still expects 2009 adjusted full-year diluted earnings per share from continuing operations to be in a range of $1.70 to $1.75. This would represent a 3% to 6% growth rate from an adjusted base of $1.65 a share in 2008. The rise in profit reflects higher tobacco excise taxes, investment spending on U.S. Smokeless Tobacco Co.'s brands, ongoing cost reduction initiatives, increased pension expenses and no share repurchases, the company