Sales and profits increase at Scandinavian Tobacco Group

0

Macanudo brand owner Scandinavian Tobacco Group reported sales and profit gains for 2021, with sales up 2.8% to 8.2 billion Danish kroner ($1.2 billion) and gross profits up 10.8% to 4.1 billion crowns ($602 million). The company today released its 2021 results in its annual report.

“Since the outbreak of the COVID-19 pandemic, demand for handmade cigars in the United States – our largest and most important market – has been extraordinarily strong,” the president and CEO wrote. from STG, Niels Frederiksen, and Nigel Northridge, Chairman of STG, in the introduction to the company’s annual report. “At the same time, tobacco consumption in other markets and categories has proven resilient.”

Including all of its business entities, STG employs 10,000 people worldwide, a number that fluctuates from year to year. In 2020, it had up to 11,000 employees, and in 2019 it had fallen to 6,900.

STG is the parent company of General Cigar Co., which manufactures premium cigar brands such as Macanudo, CAO, La Gloria Cubana, Punch, the non-Cuban Cohiba and a host of other cigars, as well as Cigars International, the largest online cigar retailer in the world. STG claims to have 1 million online customers in the United States alone.

Share.

Comments are closed.