Czech Philip Morris market share dips in Q2
PRAGUE, July 19
PRAGUE, July 19 (Reuters) - Market share of Czech tobacco group Philip Morris CR fell 2.7 percentage points to 42.8 percent in the second quarter, hit by a decline in the shipments of low-margin local brands, its parent group said on Thursday.
Philip Morris International (PMI), which holds a majority stake in the Prague-listed company, also said the Czech cigarette market fell 4.2 percent in the quarter mainly due to tax-driven price increases in the first and second quarters.
PMI's shipments fell 9.8 percent in the Czech market, it said. (Reporting by Jason Hovet)
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