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Government earnings from tobacco in 2012 stood at Rs. 71.2 billion, up Rs. 5.1 billion over 2011. Despite a significant drop in cigarette volumes of 4.3 % during the year under review, Ceylon Tobacco Company delivered a profit after tax of Rs. 8.2 billion in 2012.
The macro-economy turned 2012 into an year fraught with challenges for CTC and industry as a whole, as high inflation, drought and rising energy costs impacted cigarette volumes after two consecutive years of growth. The company's performance was driven by its continuous cost-savings initiatives, exchange gains, higher rates of interest and savings realized from employee benefit expenses in the aftermath of a restructuring undertaken in 2011.
In addition, CTC's export volumes grew by a massive 182 % increasing revenues to Rs. 128 million, prompting enhanced interest in expanding its overseas trade.
http://www.dailynews.lk/2013/02/11/bus23.asp
The macro-economy turned 2012 into an year fraught with challenges for CTC and industry as a whole, as high inflation, drought and rising energy costs impacted cigarette volumes after two consecutive years of growth. The company's performance was driven by its continuous cost-savings initiatives, exchange gains, higher rates of interest and savings realized from employee benefit expenses in the aftermath of a restructuring undertaken in 2011.
In addition, CTC's export volumes grew by a massive 182 % increasing revenues to Rs. 128 million, prompting enhanced interest in expanding its overseas trade.
http://www.dailynews.lk/2013/02/11/bus23.asp
