Tutun-CTC reports 45% rise in revenues for 2009

Moldova's largest tobacco producer Tutun-CTC closed the year 2009 with a turnover of 507.7 million lei, as against 351.2 million lei in 2008. The rise is about 45%. Last year, the company produced and sold 5 billion cigarettes, Info-Prim Neo reports, quoting sources in the company. Though it was a year of crisis, the company managed to repay all the loans before term. At the start of last year, Tutun-CTC had bank loans of about 59 million lei, including 1.7 million euros, and a technical loan from an Italian company of 700,000 euros. The company projected a 15% growth of the economic and financial indicators for 2010. This year, the company will focus on the continuation of a number of projects designed to strengthen its position on the market. In 2009, Tutun-CTC launched such new cigarette brands as Marengo – Premium and Berrat – Medium. In 2010, it intends to launch the cigarettes Atis – Medium. All the brands were worked out in concert with a specialized Swiss company. Tutun-CTC is one of the largest taxpayers in Moldova. Last year, the company transferred 140.1 million lei to the budget, as opposed to 118.82 million lei a year before.

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