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Article: Philip Morris International Inc. Presents at JP Morgan Conference in London.
- Article from:
- Business Wire
- Article date:
- June 29, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Philip Morris International Inc. (PMI) President and Chief Executive Officer Andre Calantzopoulos addressed investors today at approximately 9:30 a.m. local time at the JP Morgan Global Tobacco Conference in London, England. PMI is the international tobacco subsidiary of Altria Group, Inc. (NYSE: MO).
During the presentation, Mr. Calantzopoulos said that PMI expects volume growth to be approximately 5% for the full year 2005, including the acquisitions of Coltabaco and Sampoerna. Excluding acquisitions, PMI projects volume growth of approximately 1%, reflecting the adverse impact of the excise tax increase scheduled for September in Germany and ...