Japan Tobacco International (JTI) has reported a rise in core revenue of +2.5% year-on-year in the quarter to the end of June 2012, driven by strong pricing and Global Flagship Brand (GFB) shipment growth. At constant rates of exchange, core revenue grew by +11.8% and core revenue per thousand cigarettes increased +8.6%.
Total shipment volume grew +1.5% organically and by +2.8% including the effect of the acquisition of Haggar Cigarette & Tobacco Factory Ltd (HCTF) in Sudan, driven by the CIS+ and Rest-of-the-World clusters. GFB shipment volume grew +5.2% driven by the CIS+ cluster, notably Russia and several emerging markets, as well as Turkey.
In the six months to June, core revenue increased +6.6%, (+13.4% at constant rates of exchange. In the half-year, total shipment volume grew across all clusters. GFB shipment volume grew +7.2% driven by Russia, Spain, Italy and Turkey.
Year-on-year market share grew in most key markets, including Turkey, Spain, Italy, Canada and France, said JTI.
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