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09/09/2004
Smoking ban hits Gallaher's sales in Republic
The introduction of a smoking ban in the Republic's workplaces has had a serious impact in cigarette consumption, according financial results published today by tobacco giant Gallaher's.
The company's financial performance to the end of June 2004 reported a significant decline of 7.5% in the Republic of Ireland's cigarette market.
Gallaher's said that it had achieved increased profits for all of the European and UK markets, except for the Republic.
Since the introduction of the ban in March, monthly volumes have varied widely, although additional factors such as de-stocking of vending machines and the weather have contributed to the fluctuations.
The Republic represented a slight aberration in an otherwise positive set of results which saw total turnover for the first half of 2004 top £4.6 billion - up 8.1% on last year.
Gallaher's chief executive Nigel Northridge said: “We continue to grow our volumes and profits year-on-year in the face of difficult trading conditions in a number of European markets, coupled with the negative effect of foreign exchange."
(gmcg)
The company's financial performance to the end of June 2004 reported a significant decline of 7.5% in the Republic of Ireland's cigarette market.
Gallaher's said that it had achieved increased profits for all of the European and UK markets, except for the Republic.
Since the introduction of the ban in March, monthly volumes have varied widely, although additional factors such as de-stocking of vending machines and the weather have contributed to the fluctuations.
The Republic represented a slight aberration in an otherwise positive set of results which saw total turnover for the first half of 2004 top £4.6 billion - up 8.1% on last year.
Gallaher's chief executive Nigel Northridge said: “We continue to grow our volumes and profits year-on-year in the face of difficult trading conditions in a number of European markets, coupled with the negative effect of foreign exchange."
(gmcg)
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Northern Ireland WeatherToday:Staying cold. Any freezing fog that has formed overnight will slowly thin and disperse during the morning. Otherwise dry and bright much of the day with perhaps the odd coastal shower in the north and east. Maximum temperature 4 °C.Tonight:Dry at first with cloud thickening from the south through the evening. The odd shower, wintry over high ground, over northern counties, becoming more persistent rain over Down and Antrim. Minimum temperature 0 °C.
