Philip Morris Increased Its Market Share
Philip Morris International presented this week a report which revels that in the first quarter its market share grew on many markets in such countries as United Kingdom, France, Italy, Germany, Canada, and Indonesia.
This year Philip Morris reduced its 2013 earnings guidance to between $5.55 and $5.65 per share. Due to recent changes in foreign exchange rates here it excluded one-time items. The estimate includes a one-year general productivity and cost savings target for 2013 of about $300 million.
The American dollar is rising against other currencies in many countries of the world, therefore companies which sell goods internationally lose money when it comes to converting revenue in foreign currencies back into the dollar. This affects Philip Morris International because most of his businesses he does in different countries in the world.
Tobacco industry analysts wait for new tobacco products from the company. Philip Morris International announced about launch of new generation prodcuts in 2016 and 2017. They told about a new development that heats tobacco in a cigarette with a controlled heating mechanism.
Philip Morris International is the largest cigarette company in the wrold which has its offices in the USA (New York) and Switzerland (Lausanne). It produces such cigarette brands as Marlboro, L&M, Parliament.
Altria Group Inc. is the owner of Philip Morris USA from 2008. Today Altria is the largest U.S. cigarette seller. Analysts expect Philip Morris to report profits of $1.41 per share on revenue of $8.17 milliard. Philip Morris International reported net income of $1.36 per share on revenue of $8.12 billion, excluding excise taxes.
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