Philip Morris CR reported consolidated earnings results for the first half of 2016. The company saw its net profit fall by 1.9% to CZK 1.3 billion in the first half of 2016, while its consolidated revenues excluding excise duty and VAT rose by 5.7% to CZK 5.4 billion. The increase in revenues can be attributed mainly to higher sales in the Czech Republic and Slovakia and lower production costs.