Philip Morris International shipped 241.2 billion cigarettes in the second quarter, about the same as one year ago, as growth in Asia offset declines in much of the rest of the world.
A 7.5 per cent increase to 84 billion sticks in Asia compensated for declines of 3.3 per cent in Eastern Europe, Middle East and Africa, 3.1 per cent in the European Union and 4.8 per cent in Latin America and Canada, the company said in a statement.
Growing business in Japan and favourable developments in foreign exchange rates caused PMI to raise its 2011 forecast by USD 0.15 (EUR 0.11) for diluted earnings per share to a range of USD 4.70 – 4.80, said the company headquartered in New York.
Operating income rose nearly 28 per cent to USD 3.7 billion on sales that gained 17 per cent to USD 8.3 billion. (ci)