Sample Term Paper
Philip Morris is world’s largest non-governmental cigarette seller; the only company which is bigger than Philip Morris is the state controlled China National Tobacco Corp. Currently Philip Morris is an independently owned company that recently spun off from its former parent company the Altria Group on March 28th 2008. As we have discussed that Philip Morris is the world’s largest tobacco manufacturer with almost 15.7% of the total global market excluding the United States where they are the market leaders with almost half of the share of the total market.
The company recorded revenues of $63640 million during the financial year which ended on December 2008 which was an increase of 15.2% over the financial year 2007. While the European Union is the primary and the most important market for the company in the year 2008 the geographic area of European Union provided 47.6% of the total revenues of the company. The revenues generated from the European Union reached $30265million in the year 2008 which was an increase of 12.8% as compared to the financial year 2007 (Datamonitor, 2009).
Apart from Europe the company is also engaged in manufacturing cigarettes and other tobacco related products in most part of the world. The company’s primary reportable is based on the locations which include European Union, Eastern Europe, Middle East, Africa, Asia, Latin American and Canada (Rolli, 2007).
Apart from European Union the other parts of the world including the Eastern Europe, Middle East and Africa accounted for 23.3% for the year 2008. Revenues collected from Eastern Europe, Middle East and Africa reached 14817 which showed an increase of 21.8% as compared to the year 2007.
Asia had a part of 19.2% of the total revenue but it also had an increase of 10.1% with its revenue recorded $12222 million in the year 2008. The other parts of the world like Latin America and Canada has a share of 10%in the total revenue of the company. In this region the revenues were on the higher side with an increase recorded 23% as compared to the previous year that is 2007. Total revenues figured out to be $6336 million in 2008 (Datamonitor, 2009).
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