Habanos cigar sales drop in 2011

(cubastandard.com) Apparently struck by the economic crisis in Europe, revenues of Habanos S.A. dropped 10.3 percent in 2011, despite a 4-percent rise in sales of Cuban luxury cigars outside the European Union last year, Imperial Tobacco Ltd. said in its 2011 annual report.
The company had reported a 2-percent rise of Cuban luxury cigar sales for the six months ended March 31, 2011.
Even so, the Corporación Habanos S.A. joint venture, of which UK-based Imperial Tobacco holds half, doubled its after-tax profits last year. Continued