Tobacco giant Philip Morris International raises his expectations for the current financial year. The manufacturer behind, among others, Marlboro sold fewer cigarettes in the first half of the year, but made good with the sale of tobacco for cigarette replacement IQOS. In addition, this device was approved for sale in the United States in the second quarter.

For the whole of 2019, the company is now counting on earnings per share of $ 4.94, compared to the earlier forecast of $ 4.84 per share. In the first six months, the tobacco manufacturer saw profits fall by 2 percent to just under $ 3.7 billion. Without the influence of exchange rates, profits would have risen, says Philip Morris.

Turnover fell 1.2 percent to just under $ 14.5 billion, also due to unfavorable exchange rates. Without that effect, revenues would have increased by 4.4 percent. In addition, deliveries of products for the IQOS, which heat but do not burn tobacco, increased by almost 30 percent. The volume of cigarettes sold declined 1.9 percent in the same period.

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