American Brands Inc.: The giant consumer products...

American Brands Inc.: The giant consumer products firm reported that its first-quarter net income rose 13% to $195 million, compared to the year-ago period. Revenue of $3.2 billion was roughly the same as last year. The Old Greenwich, Conn.-based company said lower exchange rates for foreign currencies, mainly the British pound, adversely affected revenue. Despite the impact of the stronger dollar, the company cited its largest core business--tobacco--as a major factor in its earnings growth, along with its distilled spirits group and its hardware and home improvement products. The company’s major cigarette brands include Lucky Strike and Pall Mall.