Anja Fiedlerova, CEO of PMCR told Reuters that the decline in market share of PMCR is slowing down and expect to stabilize around 62-63% level in 2H06. No other material issues were touched.
Our view:
We believe this news could have a positive impact as market is expecting levels about 60% at the end of the year, while our estimate stands at 60.5%. However note that the hardest time for PMCR will come in December when April excise tax will fully materialize and could result in slight decline of market share.