Philip Morris: less smokers, bigger profit
Article Abstract:
Philip Morris CR (PMCR) (Kutna Hora, Czech Republic), tobacco firm, decreased its proceeds by 13% in 2000 compared to 1999 consequent on a drop in domestic cigarette sales. The firm did not report data about the drop but the volume of the Czech cigarette market decreased by about 20% in 2000 compared to 1999, according to specialists in the field of the tobacco industry. PMCR's net profit increased to CEK 3.2 bil in 2000 compared to CEK 2.8 bil in 1999. The main reason for the growth is the reduction of the juridical person income tax. The tax decreased by 4% to 31% in 2000 compared to 1999. PMCR has its main production plant in Kutna Hora and small plants in Hodonin and Straznice, Czech Republic. The firm has an 80% share on the Czech cigarette market. Its products are in the first five positions among the most demanded cigarette brands in the Czech Republic. PMCR's largest export market is Slovakia, where its cigarettes have a 55% market share. PMCR is a part of the concern Philip Morris (US), which holds a 77% stake in the firm.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Sazka's profit exceeds CEK 1 bil
Article Abstract:
Sazka (Prague, Czech Republic), lottery company, saw a profit of more than CEK 1.073 bil in 2000, CEK 35 mil more compared to 1999. The company will transfer CEK 901 mil from its 2000 profit for public purposes in physical education and sports. It transferred CEK 860 mil for the purposes from its 1999 profit. Sazka's proceeds totalled CEK 6.948 bil in 2000, about CEK 1 bil more compared to 1999. In 1999 the company saw a net profit of CEK 1.038 bil and total revenues of CEK 12.265 bil. Its proceeds for betting games, numerical and instantaneous lotteries were CEK 5.991 bil and its proceeds from non-lottery activities amounted to CEK 6.015 bil. The company's main shareholder is the Czech Union of Physical Education with a 68% stake. Sazka has a 13.5% stake held by the Czech Community Sokol, a 5.6% stake by the Czech Association Sports For All and a 4% stake by the Motor Club.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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