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Philip Morris Shares a 5.7% Drop in Sales on the Russian Market

Published on February 9th, 2017 00:00

Philip Morris International (PMI), one of the world’s biggest cigarette manufacturers, revealed a 5.7% drop in sales on the Russian market in 2016 in comparison to results of the 2015. Altogether, the producer sold about 79.65 million cigarettes in Russia a year ago, in opposition to 84.4 million in 2015. Camel Open Cigarette Pack

“During the whole year, the predicted entire cigarette market dropped by 4.6%, mostly because of the effect of excise tax-driven price boosts,” the company representative explained in a statement published on Thursday.

PMI accounts for more than 27.2% of the whole Russian cigarette market.