Cigarette maker Japan Tobacco International registered last year a turnover worth 368.34 million euros, up 40 percent compared to the previous year on a profit worth 20 million dollars (about 14.5 million euros).
The increase in the turnover was prompted by the rise in sales and the expansion of the cigarette portfolio, daily Bursa quotes director Corporate Affairs at JTI, Gilda Lazar, as saying.
‘’Our results were outstanding, said the JTI official. Winston and Camel hit record-high sales and the newly released brands such as Glamour, Benson&Hedges, Sobranie of London were well received by customers, proving their growth potential.
The company JTI Romania sells on the domestic market about 84 percent of output. To Serbia and Andorra, the company exports cigarette filters and to Baltic countries (Estonia, Latvia, Lithuania), Hungary and Bulgaria it exports cigarettes.
Last year the company paid taxes worth $441 million (about one billion lei), of which a third were excises.
In 2007, the JTI estimate shows that the domestic market maintained at some 35 billion cigarettes, a slight decrease by some 500 million cigarettes estimated for this year especially because of the migration of employed population.
On the other hand, the market’s value in 2008 will be on the rise, compared to 2006, due to the rise in excises, respectively prices by some 30 percent and of customers’ reorientation towards more expensive brands that prompted the increase in the sales of premium cigarettes.
In February, JTI Romania reached a market share of 29.1 percent as against 28.7 percent in January and 28.4 percent in December 2007, according to market research company Nielsen.