Cigarette Factory Plovdiv 1H Profit Down 70%

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The first half profit of Cigarette Factory Plovdiv () declines 70% compared to a year ago, from 4.066 mln leva (2.078 mln euros), or 3.77 leva per share, to 1.225 mln leva (626,332 euros), or 1.14 leva per share, shows the company's report.

The sharp decline in earnings is mainly due lower sales revenues, which dropped 30% in first half, from 22 mln leva (11.248 mln euros) to 14.77 mln leva (7.551 mln euros).

As a whole, the company's share on the Bulgarian market has dropped from 12.9% to 10.2%.

The market share of slim cigarettes produced by Cigarette Factory Plovdiv AD shrank by 9% in January to 5.4% in June 2007. The 3.6 percentage points decline is mainly due to the fact that more consumers are turning to the imported brands Karelia Slim and LD Slims. Another brand currently increasing its market share is Eva Slims by Sofia BT.

We remind that the company recently changed its name form Plovdiv BT to Cigarette Factory Plovdiv AD.

The company is controlled by Bulgartabak Holding AD which owns 78.18% of the capital.

Shares of Cigarette Factory Plovdiv were last transacted on the BSE on 31 July at 22.37 leva/share.

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