Papastratos returned to profit in 2014 as rising exports offset the collapse in the domestic market, Chief Executive Officer Nikitas Theofilopoulos said in remarks reported by ekathimerini.com.

Papastratos, a unit of Philip Morris International, exports to more than 30 countries. Declines in the domestic market since 2009 have been as much as 50 per cent, Theofilopoulos told ekathimerini.com. The cigarette maker intends to follow through on investment plans announced last December to install seven new production lines and a new tobacco processing unit.