Market share for Philip Morris USA’s signature Marlboro brand rose 0.1 per cent to 44 per cent in the third quarter, although cigarette volume declined in line with the US industry contraction, said parent company Altria.
Shipping volume fell 1 per cent to 32.9 billion sticks, of which Marlboro accounted for 28.2 billion sticks – a 0.8 per cent decline. Adjusted for trade inventory movements, third-quarter volume fell 3 per cent, a rate of decline PM USA estimated to be in line with the rest of the industry.
Altria announced it was closing a cigar plant in Pennsylvania and a smokeless product manufacturing centre in Illinois to streamline production and improve efficiency (see separate story).
Operating companies income for smokeable products fell 1.7 per cent to USD 2.1 billion (EUR 1.9 billion) on factors that include payments related to the Master Settlement Agreement, higher promotional costs and ballot initiative spending, Altria said.