Philip Morris trims annual profit forecast on elevated costs

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(Reuters) – Marlboro maker Philip Morris International Inc (NYSE:PM) cut its full-year profit forecast on Thursday hit by rising tobacco leaf prices, energy and labor costs, which have squeezed the company’s profit margins.

The company sees adjusted full-year profit per share of $6.10 to $6.22, down from its previous forecast of $6.25 to $6.37.