Czech Philip Morris shares jump on high profit

PRAGUE (Reuters) - Shares in Czech cigarette maker Philip Morris CR (TABKsp.PR: Quote, Profile, Research) soared 13 percent at open on Friday to 7,313 crowns after the company reported an unexpected jump in profit.

Philip Morris CR, controlled by Philip Morris International which itself is being spun off from the Altria Group (MO.N: Quote, Profile, Research), said earlier on Friday its 2007 unconsolidated net profit jumped 47 percent last year to 2.42 billion crowns ($150.9 million), far above market forecast of 1.66 billion profit.

Philip Morris CR usually pays its entire unconsolidated net profit in dividends, which would give a dividend of around 883 crowns per share.

(Reporting by Jan Lopatka; Editing by David Cowell)