Philip Morris CR revenues grew 4.7 percent to CZK 8.6 billion during the first half of 2020, but the company reports that its profits fell 14.2 percent to CZK 1.7 billion. It blamed the falling profits on slower sales abroad, lower sales of smoking products and restrictions on the movement of goods during the lockdown period. “The estimated combined market share of Philip Morris CR (for cigarettes and heated tobacco products) rose 3.5 percent in comparison with the same period in 2019,” wrote the company in a statement. It said the combined market for the products fell 11.5 percent in the first half of the year compared to 2019. In Slovakia, the market contracted just 1.3 percent for the same period.
