Philip Morris: Excise hike generates sales decline

Philip Morris International saw its volume of sales down 2.1% in Eastern Europe, the Middle East and Africa (EMEA) in the second quarter of the year against the second quarter of 2008, to 76.6 billion cigarettes, with the biggest decline being recorded in Romania, Ukraine, and in duty free shops, according to the company’s financial report. “The sales decline on the Romanian market reflected a decline of the overall cigarettes market, following tax-driven price increases in April 2009,” specifies the report. According to the same source, the company boosted its share of the Romanian market in the analysed period. The company’s representatives in Romania did not wish to comment on the results. Philip Morris is the second largest player on the Romanian cigarettes market, which is put at 2.4-2.5 billion euros. The group’s portfolio includes brands such as Marlboro, L&M and Parliament.