Altadis, a unit of British group Imperial Tobacco, said on Tuesday it has raised the prices of its leading brands in Spain by EUR 0.10, reports Reuters.
Altadis said it has increased the cost of its main blonde tobacco brands Fortuna and Nobel in Spain to EUR 3.85 per pack of 20 cigarettes from EUR 3.75, while black tobacco Ducados prices were lifted to EUR 3.95 from EUR 3.85.
Imperial Tobacco, the world's fourth-biggest cigarette maker, said half-year earnings beat forecasts though the Spanish market remained difficult due to a wider-ranging smoking ban in place since January and a weak economy.
A December duty rise and soaring unemployment, which has prompted cash-strapped smokers to downgrade to cheaper brands, have also weighed on Spanish earnings, the British group said. (pi)