Molins

Breaking News

British government not to apply tobacco-firm levy

| July 13, 2015

The British government has decided not to go ahead with the imposition of a levy on tobacco manufacturers and importers, according to a Reuters News story.

In December, the government said it was considering introducing such a levy, which would have been based on market share.

It launched a consultation to gather views on the idea but now says the consultation has shown that the cost would simply be passed on to consumers.

‘Analysis of the responses shows that the impact of a tobacco levy on the tobacco market would be similar to a duty rise, with tobacco manufacturers and importers passing the levy onto consumer prices,’ the government was quoted as saying.

The government seems to have a complex relationship with its tobacco consultations. Whereas in this case, it seems to have been swayed by the consultation findings, it is widely believed that the consultation it conducted into standardized packaging lacked transparency.

Academic seeks recognition of e-cigarette’s quit role

| July 10, 2015

A Māori health academic has accused some Aotearoa (New Zealand) health researchers and officials of spreading false negative information about electronic cigarettes, according to a story by Andrew McRae for Radio New Zealand.

Marewa Glover, an associate professor of Massey University, was quoted as saying that these false claims were putting people off using electronic cigarettes, which had the potential to help many people quit smoking.

Officially, the importation and sale of nicotine e-liquids is banned in Aotearoa, though it is possible for individuals to buy them online from overseas.

Glover said millions of people in Germany, the UK and the US had switched to vaping. This was a consumer-driven movement in which consumers were discovering electronic cigarettes without government or public health support. They were finding that these products worked and they were passing this information to other smokers.

Glover said it was a travesty that health professionals were not allowed and were not provided with the tools to support smokers in using vapour products to quit their habit.

She is calling for official recognition of vapor products as a way to help Māori quit smoking.

She pointed out that Māori were being disadvantaged because to buy e-liquids required credit facilities, access to a computer and knowledge about buying online.

The latest Ministry of Health figures on smoking show that about four in 10 Māori adults are smokers.

Essentra exporting UK production jobs to Hungary

| July 10, 2015

About 200 people are set to lose their jobs following an announcement on Wednesday by Essentra Plc that it planned to close its factory at Jarrow, UK, by the end of this year, according to a story in the Shields Gazette relayed by the TMA.

The current Jarrow production is to be shifted to Hungary.

Essentra was said to have begun a 45-day consultation period to discuss the site closure with those affected, though there was no suggestion that the discussions would reduce the number of job losses.

Essentra Europe managing director Hugh Ross was quoted as saying that cigarette volumes in Western Europe had declined by almost 30 percent during the past 10 years.

Consumer demand was shifting from ‘mature Western countries to the more dynamic, developing markets in Eastern Europe’.

Cigarette companies that bought filters from Essentra had responded to this trend by relocating production to Central and Eastern Europe.

Only a small percentage of the current filter production at the Jarrow facility was destined for the UK market.

Zimbabwe growers suffer 7.5 percent fall in prices

| July 10, 2015

The average grower price for Zimbabwe flue-cured so far this season is down by 7.5 percent on that at the corresponding point of the 2014 season, according to a story by Munesu Nyakudya relayed by the TMA and quoting Tobacco Industry and Marketing Board (TIMB) figures.

So far, growers have sold 178.9 million kg of flue-cured for US$525.9 million; or an average price of US$2.94 per kg.

At the same point of last season they had sold 196.6 million kg of flue-cured for US625.1 million; or an average price of US$3.18 per kg.

Flue-cured has been in oversupply recently; so it has been a buyers’ market in Zimbabwe and elsewhere.

Growers in Andhra Pradesh, India, have been having a hard time selling their tobacco at all.

JT’s domestic cigarette sales increased in June

| July 10, 2015

Japan Tobacco Inc’s domestic cigarette sales volume during June, at 9.3 billion, was increased by 4.6 percent on that of June 2014, 8.9 billion, according to preliminary figures issued by the company today. The June 2014 figure was down by 6.5 percent on that of June 2013.

Volume during January-June, at 53.1 billion, was down by 3.7 percent on that of January-June 2014, 55.1 billion, which was down by 1.8 percent on that of January-June 2013.

JT’s market share stood at 60.2 percent during June, at 60.0 percent during January-June, and at 60.4 percent during January-December 2014.

JT’s domestic cigarette revenue during June, at ¥52.6 billion, was increased by 4.8 percent from its June 2014 level, ¥50.2 billion, which was down by 3.6 percent on its revenue of June 2013.

Revenue during January-June, at ¥300.9 billion, was down by 1.8 percent on that of January-June 2014, ¥306.4 billion, which was down by 0.7 percent on its revenue of January-June 2013.

PMI to host results webcast July 16

| July 10, 2015

Philip Morris International is due to host a live audio webcast at www.pmi.com/webcasts starting at 09.00 Eastern Time on July 16 to discuss its 2015 second-quarter results, which will be issued about 07.00 the same day.

During the webcast, which will be in listen-only mode, CFO Jacek Olczak will discuss the results and answer questions from the investment community and news media.

The audio webcast can be accessed also on iOS or Android devices by downloading PMI’s free Investor Relations Mobile Application at www.pmi.com/irapp.

An archived copy of the webcast will be available at www.pmi.com/webcasts until 17.00 on August 14.

Slides and the script will be available at www.pmi.com/earnings.

white cloud cigarettes

pattyn banner

itm banner

Burghart

Burghart