HAVANA: A surge in sales of Cuba’s legendary cigars in China helped manufacturer Habanos S.A.’s global revenue rise 12 percent to hit a record of around $500 million last year, the company said on Monday at the start of Cuba’s annual cigar festival. Habanos S.A., a 50-50 joint venture between the Cuban state and Britain’s Imperial Brands Plc, said sales in China, its third export market after Spain and France, jumped 33 percent in value in 2017. Lopez said that growth in global sales of Cuban cigars last year outpaced the luxury goods market, which expanded 5 percent, according to consultancy Bain & Co. The Habanos executive said the outlook was also positive, given solid demand and “excellent” climatic conditions. “We trust that despite Trump’s measures the Cuban market will continue to grow in 2018,” he said.

Source: New Strait Times February 26, 2018 23:15 UTC