JTI hopes to remain in the black

Japan Tobacco International (JTI), the third largest cigarettes manufacturer on the Romanian market, intends to boost the share of exports to 25% of its production by the end of 2011, from around 20% at present. "Now we export to 11 markets in the region, among which the Baltic states, Hungary, Andorra, Poland and Bulgaria, but by the end of 2011 we want to cover 35 markets, including those on other continents," said Gilda Lazar, corporate affairs and communication director of JTI Romania, Bulgaria and Croatia. The producer of the Winston, Glamour and Camel brands posted a 1.611 million-RON (437.4 million-euro) turnover last year and 13.2 million euros in net profit, according to data provided by representatives of the manufacturer. Considering this turnover, exports would amount to 85 million euros, according to ZF estimates. "Our turnover will this year rise proportionately to the excise rise, and we hope to remain in the black, although the profit may not be very significant," said Gilda Lazar. As part of the cost-optimisation process, JTI dropped two of its low-price cigarette brands this year, Saint George and Smart.