According to a report by Newsday on April 24th, Raoul Glynn, CEO of West Indies Tobacco Company Limited (WITCO), announced at a press conference held at the Queen's Hall in Spain on April 23rd that the e-cigarette brand Vuse will have a strong and positive impact on the company's revenue.
The quality of Vuse products surpasses that of other brands on the market, with attractive prices and a strong profit structure. Witco's advantage lies in its distribution and ability to obtain the necessary products, which is what we value.
Greene stated that approximately 12% of consumers in the market are using e-cigarette products. "We anticipated changes in the market and observed e-cigarettes growing in a way that does not decrease tobacco sales."
Last week, the company revealed that as of December 31, 2023, its annual revenue had increased by 5.9% compared to the previous year. The company's financial director, Johan Grosberg, stated that despite taking many measures to improve operational efficiency last year, increased costs of raw materials, packaging, and labor led to an increase in sales costs. However, they were able to benefit from reduced expenses.
The brand support expenses align with our marketing plan, allowing us to trim slightly and execute the plan more effectively. Additionally, as part of a large group, we benefit from some restructuring taking place outside of the group.
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