According to the CFO of Reemtsma International Praha (the second-largest domestic cigarette distributor after Philip Morris CR), growth of demand and the strengthening koruna positively influenced the Czech cigarette market in 2001. The CFO suggested that the cigarette market could grow this year as well due to the increased excise tax for loose tobacco (Source: Czech Press Agency). Positive for Philip Morris stock, but we do not expect a reaction.
(Jan Hajek)