Philip Morris' Tobacco Plants in Russia Increase Net Profit by 45% in 2008

Source from:  Interfax 07/21/2009

Net profit posted by Philip Morris International's tobacco plants in the Leningrad region and the Krasnodar Territory　increased by 45% to 16.8 billion rubles in 2008, up from 11.6 billion rubles in 2007. According to the SPARK database, net profit for Philip Morris Izhora increased to 16.1 billion rubles against 10.96 billion rubles in 2007. Philip Morris Kuban's net profit increased from 603.7 million rubles to 689 million rubles. Sales revenue for the Izhora plant increased to 44.5 billion rubles against 33.97 billion rubles in 2007. For the Krasnodar plant, this figure increased from 5.44 billion rubles to 5.9 billion rubles. Sales revenue posted by Philip Morris Sales and Marketing, through which the company distributes production in over 100 Russian cities, increased by 25% to 70.8 billion rubles from 56.4 billion rubles in 2007. The enterprise's net profit shrank by 28% to 323.2 million rubles against 450 million rubles. Philip Morris International is one of the world's leading tobacco producers. The company produces cigarettes in over 50 factories, which are sold in 160 countries. According to the company's own estimates, Philip Morris has cornered a 15.6% stake of the world tobacco market. Enditem