According to Philip Morris CR CEO I. Ferguson, the Czech tobacco market outlook for 2002 is rather positive. He confirmed that the strong Czech koruna helps to reduce the cost of tobacco purchases. On the other hand, the outlook for exports to Slovakia (approx. 14% of company sales) is negative due to a substantial excise-tax increase in Slovakia in January 2002. Overall, the news is positive for the stock. Source: Philip Morris CR.
(Jan Hajek)