Philip Morris CR announced consolidated earnings results for the first quarter of fiscal 2015. For the quarter, the company saw its gross profit rise by 12.2% year-on-year to CZK 1.1 billion, mainly due to favorable development of prices in the Czech Republic and Slovakia. Consolidated sales without excise duty and VAT fell by 17.2% to CZK 2.3 billion, mainly due to changes in the operating model of production.

The decrease was partially offset by positive pricing in the Czech Republic and Slovakia. Excluding the influence of the exchange rate, consolidated sales excluding excise duty and VAT decreased by 17.4%.