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JTI volume dips on lower European demand

Japan Tobacco International shipment volume declined 2.9 per cent in the first quarter as gains in the rest of the world failed to offset lower demand in the cigarette makers’ European divisions, JTI said.

Global flagship brands did better, declining only 0.5 per cent to 66 billion sticks. Total shipments were down 2.7 billion sticks to 91.7 billion sticks. Country markets with steep declines included Italy, Russia, Spain and the UK. Currency fluctuations cut into operating profit,...

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