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Home » Cigar News

Habanos Sales Drop in 2011

Submitted by Oliver on January 30, 2012 – 7:01 amOne Comment

Sad news for those who support Cuban cigar industry, and the Habanos S A corporation in particular. According to the Imperial Tobacco Ltd.’s 2011 annual report, their sales have significantly decreased while their revenues dropped by 10.3 %. It seems the European crisis had strong impact on the cigar industry, since one of their major markets is situated in Europe.

The global financial crisis hit all fields of life, including Cuban cigars manufacturing. It was reported that despite the 4% rise on Cuban luxury cigars last year that didn’t help saving the situation this year.

The UK-based Imperial Tobacco holds the half of the Corporación Habanos S.A. joint venture that has duplicated its gains last year. According to their annual report, their income has set US$55 million, after they have paid taxes in the amount of 10 million US$15.72 million. This is considered a successful year, as in comparison to the 2010 outcome with revenues of US$61.3 million after paying taxes in the amount of US$7.8 million.

The Imperial Tobacco is very optimistic about the results of their annual report. They declared their luxury Habanos Cigar branch has showed another good performance thanks to the high demand on Russian, Chinese and Brazilian markets. This happened due to the new limited editions of Cohiba and Montecristo cigars. However they didn’t say a word about the situation on the European cigar market.

Imperial Tobacco has the global marketing monopoly for Cuban cigars of first degree due to the Habanos joint venture with Cuban state company CubaTabaco.

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One Comment »

  • Peter G says:

    If the little tiff America has with Cuba ever ends they’ll get the biggest boost in sales in quite a while. But for now they’ll just have to tighten up their belt and get their hands dirty to keep the ship up.

    Peter G