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Jump to full article: Bloomberg News, 2008-03-28
Author: Marek Miler and Yon Pulkrabek
Intro: Philip Morris CR AS, the Czech unit of Europe's largest cigarette maker, gained the most in almost six years in Prague trading after the company said profit unexpectedly rose in 2007 and indicated its dividend may beat estimates.
Philip Morris CR gained as much as 14 percent and was up 540 koruna, or 8.4 percent, to 6,990 koruna at 12:06 p.m. local time, the biggest one-day advance since July 4, 2002. . . .
The invitation to the shareholders' meeting was published in a legal ad in newspaper Hospodarske Noviny today and the company didn't elaborate on the reasons for the profit gain. Spokeswoman Jaroslava Hajkova couldn't be reached for a comment.
Increases in Czech taxes on tobacco in March 2007 and January 2008 pushed prices higher, prompting some smokers of more expensive brands such as Philip Morris's Marlboro and Petra to switch to cheaper products
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