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Financial News

Nov 2013 Financial News

Witco raises price on all cigarette products again

Nov 05, 2013

The West Indian Tobacco Company (Witco) has raised prices again.

For the second time this year, the company has implemented an across the board price increase on all its cigarette products, effective yesterday.

Champs Fleurs-based Witco last raised prices on Carnival Monday. Prior to that Witco had raised prices in May last year.

On those two occasions, Witco’s managing director Jean-Pierre du Coudray had attributed the rising prices to increasing international commodity prices.

Some products have increased on average by $1, while others, $2.

The premium Dunhill and Dunhill Fine Cut brands, previously $23 and $28 respectively, will now be $25 and $30. The du Maurier range is now $23, and $13 for a half-pack.

Broadway is now $20, and $12 for a half pack.

These are suggested prices and some retailers and vendors have already added an additional dollar to their cigarette prices.

Nonetheless, Witco continues to be the strongest performing listing on the Trinidad and Tobago Stock Exchange, valued at $120 per share.

Witco earned a $476 million pre-tax profit for 2012, an 18 per cent increase over $402 million in 2011.

Thirty-eight per cent of the company’s income goes toward government taxes.


Source:
Carla Bridglal
Trinidad Express
Tuesday November 5, 2013

http://www.trinidadexpress.com/business/Witco-raises-price-on-all-cigarette-products-again-230577891.html