Philip Morris cigarette shipments in the Czech Republic and Slovakia declined through the first six months and PM International affiliate PM ĈR said the outlook is uncertain for the rest of 2011.

Volume declined 5.8 per cent to 4.67 billion units in the Czech Republic and 3.8 per cent to 1.77 billion units in the half-year ended 30 June. A 1.9 per cent increase in exports to 7.06 billion units meant the decrease in total units was only 1.7 per cent to 13.5 billion units, the affiliate said in a statement.
“Although total industry volumes were resilient in both the Czech Republic and Slovakia for the first half-year of 2011, the outlook for the remainder of the year remains uncertain due to a number of factors such as the level of unemployment, the underlying market decline trend and the extent of consumer down-trading to cheaper brands or illicit products,” said Daniel Gordon, director of finance at Philip Morris ĈR. (ci)