Profits at Russian Plants up By 45 Per Cent

Source from:  Tobacco Reporter 07/22/2009

The net profit posted by Philip Morris International's tobacco plants at Leningrad and Krasnodar increased by 45 per cent to Rb16.8 billion in 2008 from Rb11.6 billion in 2007, according to an Interfax story. Quoting the SPARK database, the report said net profit for Philip Morris Izhora [Leningrad] increased to Rb16.1 billion from Rb10.96 billion on sales up from Rb34.0 billion to Rb44.5 billion, while net profit at Philip Morris Kuban [Krasnodar] rose from Rb603.7 million to Rb689.0 million on sales up from Rb5.4 billion to Rb5.9 billion. The sales revenue posted by Philip Morris Sales and Marketing, through which products are distributed to more than 100 Russian cities, increased by 25 per cent from Rb56.4 billion to Rb70.8 billion, but net profit shrank by 28 per cent from Rb450.0 million to Rb323.2 million. Enditem