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Ceylon Tobacco Company PLC has earned a profit after tax of Rs. 4.6 billion during the first 9 months of the year 2011, which ended on the 30th of September.
This is a 71% growth compared to the same period of year 2010, which only saw the Tobacco firm recording a profit of Rs. 2.702 billion.
CTC said the firm benefited from the robust overall economy, increasing tourist arrivals and the Government’s initiatives to drive growth and investment particularly in the North and East.
The company also has seen strong operating performance during the first 9 months, driven by improvements in the brand mix and successful efforts to control costs and increase efficiencies across the organization.
Ceylon Tobacco points out the strong and effective actions by law enforcement agencies to
curtail the spread of unauthorized and illicit products supported the company’s performance.
“During the first 9 months of the year, a total of 441 raids were conducted, resulting in the confiscation of 53 million illegal sticks with a market value of Rs 848 million” added a statement issued by the Company.
During the first 9 months of this year CTC in total has paid Rs. 44 billion as taxes to the Government compared to the Rs. 36 billion paid during the same period of last year.
The Directors of the CTC have recommended a Third interim dividend of Rs.10.50 per share which will be paid on the 29th of November 2011.
http://www.news360.lk/markets/stock-market/ctc-profit-reaches-rs-4-6-bln-during-first-9-months-of-2011-as-tobacco-sales-grows
This is a 71% growth compared to the same period of year 2010, which only saw the Tobacco firm recording a profit of Rs. 2.702 billion.
CTC said the firm benefited from the robust overall economy, increasing tourist arrivals and the Government’s initiatives to drive growth and investment particularly in the North and East.
The company also has seen strong operating performance during the first 9 months, driven by improvements in the brand mix and successful efforts to control costs and increase efficiencies across the organization.
Ceylon Tobacco points out the strong and effective actions by law enforcement agencies to
curtail the spread of unauthorized and illicit products supported the company’s performance.
“During the first 9 months of the year, a total of 441 raids were conducted, resulting in the confiscation of 53 million illegal sticks with a market value of Rs 848 million” added a statement issued by the Company.
During the first 9 months of this year CTC in total has paid Rs. 44 billion as taxes to the Government compared to the Rs. 36 billion paid during the same period of last year.
The Directors of the CTC have recommended a Third interim dividend of Rs.10.50 per share which will be paid on the 29th of November 2011.
http://www.news360.lk/markets/stock-market/ctc-profit-reaches-rs-4-6-bln-during-first-9-months-of-2011-as-tobacco-sales-grows
