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Cigarette firm reports €30.9 million Irish profit  

Cigarette manufacturer Gallaher recorded a €30.9 million profit last year for its Irish operation and showed a 3 per cent increase in turnover, despite a declining market. Gallaher (Dublin) Limited, based in Cookstown, reported that its turnover had risen to €714.8 million in the year ending December 31, 2007, up from €693.7 million a year earlier.

The company, which sells the Benson & Hedges and Silk Cut brands of cigarettes, recorded a €30.9 million profit, down from €32.2 million in 2006. . . .

The firm’s directors noted that the Irish cigarette market, which accounts for the bulk of its revenues, declined by 4.4 per cent during 2007, which it attributed to excise increases ahead of the rate of inflation.

It also blamed the shrinking market size on the increase of non-Irish duty paid cigarettes coming into the domestic market.

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