Jump to full article: The Guardian (uk), 2006-09-06
Author: Hans Kundnani
Intro: Gallaher, Britain's second-largest tobacco company, said its profits rose 15% in the first half of the year as it sold more cigarettes in central and eastern Europe.
The group, which makes brands such as Silk Cut and Benson & Hedges, said total sales were up 2.1% to £4.03bn for the six months of the year to June 30, sending pre-tax profits up to £259m from £225m during the same period last year.
Gallaher has been expanding into central and eastern Europe to make up for the decline in smoking in western Europe caused by increased taxes on cigarettes and bans on smoking in public places. In Europe sales were up 2% and in the former Soviet Union they were up 19%.
"Gallaher made good progress in the first half of the year, in spite of challenging conditions created by additional taxation and increased price competition in some European markets," the company said.
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