Circumstances affecting some of Philip Morris International's key markets, most notably Spain, dictate a cautious earnings outlook this early in the year. |
Circumstances affecting some of PMI's key markets, most notably Spain, dictate a cautious earnings outlook this early in the year. |
During the third quarter, particularly strong results in our tobacco businesses were partially offset by continuing challenges at Kraft. |
I am nevertheless confident that we have the strategic wherewithal and resources to manage the challenges ahead and successfully seize the considerable opportunities ahead of us. |
I believe we can continue to gain share, |
Individually and as a team, they are exceptionally well prepared to grow our brands and businesses, |
Our domestic tobacco business delivered solid income gains in a highly competitive marketplace, ... Our international tobacco business delivered strong volume and income gains, with excellent share growth across most of its key markets. |
Overall, we achieved solid results in 2005, with strong income growth in our tobacco businesses partially offset by weaker results in food. |
The pace of consolidation has accelerated, and we believe the trend will continue as brewers pursue global or regional expansion, ... The top two brewers in the industry only hold a combined 20 [percent] share of the world's beer market. Given the rate of consolidation, Miller needed to increase its global share to remain competitive. |
We are looking at a number of alternatives to maximize shareholder value, including the separation of the company into two, or potentially three, strong and independent entities, |
We believe industry dynamics should improve in 2003, ... more effective measures to stop the flow of illegally sold cigarettes. |