Imperial Tobacco suffer £1.2bn writedown as Spanish smokers sustain habits on black market
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Imperial Tobacco suffer £1.2bn writedown as Spanish smokers sustain habits on black market

Madrid : Spain | Oct 30, 2012 at 12:46 PM PDT
Source: Guardian Unlimited
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The writedown means revenues fell to £28.6bn, compared with £29.2bn last year, with pretax profits down 50% to £1.1bn from £2.2bn. The company blamed the economic meltdown in Spain, along with an increase in black market cigarettes as the nation's smokers turn to cheaper ways to fund their habits.... FULL ARTICLE AT Guardian Unlimited
 
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