Altria Group’s Profit Increases Less Than 1%

Altria Group Inc., parent of cigarette maker Philip Morris and Kraft Foods Inc., said first- quarter profit increased less than 1%, hurt by costs to close Kraft factories and fire workers.

Net income rose to $2.19 billion, or $1.07 a share, from $2.17 billion, or $1.07, a year ago, the New York-based company said. Sales climbed 13% to $21.8 billion.

Shares of Altria fell 12 cents to $56.33 on the NYSE.