Philip Morris CR AS reported consolidated sales results for the third quarter and nine months ended September 30, 2014. In the third quarter of 2014, the company's revenues net of excise tax and VAT rose by 17.6% to CZK 3.8 billion compared with CZK 3,260 million for the same period a year ago. The increase in Revenue was mainly driven by favorable volume/mix in the Czech Republic and Slovakia, higher exports to other PMI affiliates, as well as favorable currency of CZK 154 million, partially offset by unfavorable pricing in the Czech Republic. Excluding the impact of currency, consolidated revenues, net of excise tax and VAT, increased by 12.9% versus the same period in 2013.

For the nine months, the company raised consolidated sales, excluding excise duty and value added tax (VAT), by 10.2% year-on-year to CZK 10.2 billion in January-September 2014 compared with CZK 9,288 million for the same period a year ago. Excluding the impact of the exchange rate, consolidated sales, excluding excise duty and VAT, rose by 5.9% year-on-year in January-September.