Cigarette producer British American Tobacco (BAT) Romania logged more than $350 million turnover last year, up 40% from the previous year when it had sold $250 million's worth. "Over 66% of our turnover went to excises, VAT and special funds paid to the state and special budgets. We may say that as far as 2004 is concerned, it is all up to the Government's fiscal policy regarding excises, so that no projections can consider anything more than the previous year's data," Radu Georgescu, Corporate Affairs Director with BAT Romania said. He added BAT Romania accounted for some 34% of the market and saw "durable" growth without spectacular leaps from 2002. The cigarette market amounted to $1bn last year. ZF
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