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non-USA, by Country
· Europe
· Eastern Europe
Organizations
· Glh
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Jump to full article: Reuters (uk), 2006-09-01
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Intro: Tobacco company Gallaher is set to post a 4 percent rise in half-year profits in the week ahead as growth in the former Soviet Union offsets tough trading in other European markets, analysts said on Friday.
Gallaher (GLH.L), whose cigarette brands include Benson & Hedges, Silk Cut and Mayfair, warned in late June of tough markets in Austria, Poland and Spain while a Swedish tax rise in January led to stocking up in late 2005 and poor growth in early 2006.
The world's fifth-largest cigarette group is expanding into the former Soviet Union, which provides 10 percent of group profits but over half of volumes. It hopes the move will offset the effects of mature European markets like Britain, Ireland, Sweden and Austria which account for around 70 percent of profits.
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