This excerpt taken from the MO 8-K filed Oct 17, 2007.
EASTERN EUROPE, MIDDLE EAST & AFRICA
2007 Third-Quarter Results
In Eastern Europe, Middle East & Africa, PMIs operating companies income increased 22.0% to $710 million, due mainly to higher pricing, improved volume/mix and favorable currency of $44 million. Cigarette shipment volume of 77.5 billion units was up 0.3%. Higher volume in Algeria, Bulgaria, Egypt, Lebanon and Ukraine more than offset unfavorable timing of shipments in Kuwait and lower volume in Serbia and worldwide duty-free.
In Egypt, the total market rose 6.4%, while PMIs market share grew 2.6 points to 14.2%, due to the continued strength of L&M. Shipment volume in Egypt grew 21.1%.
In Russia, shipment volume declined 1.0% due to unfavorable distributor inventory movements following consolidation to a single distributor. Market share rose 0.2 points to 26.6% as its premium portfolio including Marlboro, Parliament and Virginia Slims continued to grow strongly, more than offsetting the decline of L&M. In September, PMI replaced the entire L&M brand family with a completely new offering to improve its vibrancy and adult consumer appeal. Initial results are encouraging. Improved brand mix and better pricing resulted in strong income growth in Russia.
In Serbia, PMIs shipments were down 10.6%, due to the continued decline of local brands, and market share was down 1.9 points to 52.0%. However, PMIs market share increased for its international brands, driven by Marlboro and Bond Street. Market share for Marlboro rose slightly and its share of the premium segment increased.
In Ukraine, shipments grew 3.5% and market share rose 0.6 points to 34.0%, driven by consumer uptrading to Marlboro, Parliament and Chesterfield.