Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Philip Morris International Inc.    PM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Philip Morris To Cut Virginia Slims Brand Price In South Korea

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/13/2012 | 08:52pm CEST

--Tobacco firm to trim price of Virginia Slims Superslims by 14% in South Korea as of April 23

--Philip Morris facing pressure from KT&G, the region's dominant player

--Price cut a setback for Philip Morris, which has shown a great ability to raise prices in various markets

 
   By John Kell 
   Of  
 

Philip Morris International Inc. (>> Philip Morris International Inc.) will cut the price of Virginia Slims Superslims cigarettes in South Korea, backtracking from a price increase enacted in February as the company faces pressure from competitor KT&G Corp. (033780.SE).

The tobacco company confirmed it would cut the price on Virginia Slims Superslims by 14% to 2,500 won ($2.21) per pack from KRW2,900, as of April 23. Prices of all other Philip Morris brands in South Korea will remain unchanged.

The price cut comes roughly two months after Philip Morris raised prices on Marlboro in South Korea by KRW200, to KRW2,700, and on Virginia Slims by KRW100. At the time, Philip Morris management conceded it was facing "ferocious" advertising by the region's dominant tobacco company, KT&G, which currently sells its Esse ultraslim brand at KRW2,500 per pack.

Strong demand in Asia has driven sales and earnings growth for Philip Morris, which makes brands such as Marlboro and L&M and derives all sales from outside the U.S. South Korea is a key market for the company as 2010 industry volume ranked above Italy, Germany and Spain, though below other Asian markets like Japan and the Philippines.

While the price decrease is a setback for Philip Morris, the company has shown a great ability to implement price increases in numerous markets it serves. In February, Philip Morris said about 70% of pricing actions taken in markets including Germany, Russia and Indonesia were included in the company's 2012 guidance.

Philip Morris in recent years has gained market share dramatically in South Korea, commanding 19.8% of the market at the end of 2011, far above 2006's level of 8.6%. While the region's total cigarette market dropped 0.6% last year to 90 billion units, Philip Morris's volume jumped 17% as Marlboro and Parliament gained share.

Shares of Philip Morris, which is due to report first-quarter earnings next week, were up 1.3% to $88.41 in recent trading Friday afternoon. The stock has gained 13% so far in 2012.

-By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stocks mentioned in the article : Philip Morris International Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PHILIP MORRIS INTERNATIONA
02:04p PHILIP MORRIS INTERNATIONAL : 2,483 Shares in Philip Morris International Inc. A..
04/23 PHILIP MORRIS INTERNATIONAL : lauds PH campaign vs fake cigarettes
04/21DJFinancial, Industrial Sectors Boost Stocks -- WSJ
04/20 THURSDAY SECTOR LAGGARDS : Cigarettes & Tobacco, Electric Utilities
04/20 PHILIP MORRIS INTERNATIONAL INC. (NY : PM) Files An 8-K Results of Operations an..
04/20 PHILIP MORRIS INTERNATIONAL INC. : Results of Operations and Financial Condition..
04/20 PHILIP MORRIS INTERNATIONAL : misses 1Q forecasts, volume continues decline
04/20 PHILIP MORRIS INTERNATIONAL INC. : (PMI) Reports 2017 First-Quarter Results; Inc..
04/17PHILIP MORRIS INTERNATIONAL INC. : quaterly earnings release
04/13 PHILIP MORRIS INTERNATIONAL : New Smoking Findings from Philip Morris Internatio..
More news
Sector news : Tobacco - NEC
04/26DJBRITISH AMERICAN TOBACCO : BATs Plans to Declare Quarterly Dividends from 2018
04/12 UK Supreme Court denies Big Tobacco appeal, plain packaging to go ahead
04/04 UK investor LGIM highlights governance issues at Sports Direct
03/31 ALTRIA : Philip Morris asks for U.S. FDA nod to sell heated tobacco device
03/30 Imperial Brands sticks to full-year guidance, forex gains help
More sector news : Tobacco - NEC
News from SeekingAlpha
08:00a Because Bears Are Not The Most Welcome Houseguests
04/27 My Dividend Growth Portfolio - Q1 2017 Summary
04/26 The Best Of The Blue Chips (And The Worst)
04/26 WALL STREET BREAKFAST : Tax Day Comes Round Again
04/26 A victory for the vaping industry?
Advertisement
Financials ($)
Sales 2017 28 368 M
EBIT 2017 11 690 M
Net income 2017 7 598 M
Debt 2017 24 729 M
Yield 2017 3,86%
P/E ratio 2017 22,64
P/E ratio 2018 20,50
EV / Sales 2017 6,90x
EV / Sales 2018 6,37x
Capitalization 171 140 M
More Financials
Chart PHILIP MORRIS INTERNATIONA
Duration : Period :
Philip Morris Internationa Technical Analysis Chart | PM | US7181721090 | 4-Traders
Full-screen chart
Technical analysis trends PHILIP MORRIS INT...
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 118 $
Spread / Average Target 6,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
André Calantzopoulos Chief Executive Officer & Director
Louis C. Camilleri Chairman
Antonio Marques Senior Vice President-Operations
Jacek Olczak Chief Financial Officer
Patrick Brunel Chief Information Officer & Senior Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
PHILIP MORRIS INTERNAT..20.44%171 140
BRITISH AMERICAN TOBAC..13.30%125 976
REYNOLDS AMERICAN, INC..14.78%91 716
IMPERIAL BRANDS PLC7.83%47 261
SWEDISH MATCH AB1.62%6 317
ESSENTRA PLC16.27%1 819
More Results