Leading cigarette maker Godfrey Phillips expects its revenues to grow by over 10 per cent in the fiscal ending March 31, 2004 on the back of rising sales.
The company, which is 36 per cent owned by global cigarette maker Phillip Morris, also plans to soon start exports of the premium cigarette brand Jaisalmer to Europe, Middle East and Africa, its executive vice president (marketing) Amrish Anand said in New Delhi on Monday.
"This year, our growth rates have been higher than the industry. The revenues should grow at 10 per cent plus over last year," Anand told a news conference, while launching its popular Red and White brand in a new pack.
During 2002-03, Godfrey Phillips had recorded a 14 per cent rise in turnover at over Rs 1,000 crore (Rs 10 billion). It competes with players like ITC, VST and GTC, which together control almost 99 per cent of the Indian cigarette industry.
The company is managed by the Indian promoter group K K Modi, who has 32 per cent stake, while Phillip Morris provides technical support.
Anand said the decision of the foreign partner to market its popular Marlboro brand in the country separately through a local firm would not impact the current relationship between the two companies.
Godfrey Phillips also produces cigarettes like Four Square and Cavanders.
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