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UPDATE 1 - Bulgaria's economy grows 1.8% y/y in Q3 - prelim data
Serbia posts 47.8 mln euro budget deficit in Jan-Oct
Bulgaria's economy grows 1.8% y/y in Q3 - prelim data
Dec 19, 2007 14:45 EEST
December 19 (SeeNews) - Tobacco giant Philip Morris said on Wednesday it expanded its market share in EU newcomer Bulgaria to 9.0% from 7.0% in August.
“At present the market share of Philip Morris Bulgaria is almost 9.0% in value terms according to the latest report of [global research firm] ACNielsen,” the Bulgarian unit of Philip Morris said in a statement.
Philip Morris Bulgaria has said it seeks to achieve a double-digit market share next year.
Bulgarian former state monopoly Bulgartabac dominates the local cigarette market. However, it started to gradually lose market share to global majors, which sharply increased their imports to Bulgaria, after the country joined the EU in January.
Philip Morris entered the Bulgarian market in July 2006 by launching its Marlboro and Parliament cigarette brands. It sells also its L&M, Assos and Bond Street cigarettes in the country.
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