CTC contributes Rs. 48.5b to Government revenue

Ceylon Tobacco Company (CTC) contributed Rs 48.5 billion to government revenue in the first nine months of 2013, which was 0.7 billion higher than the corresponding period of last year. This was achieved despite a 11% volume drop, in the backdrop of dampened consumer confidence.

Profit after Tax stood at Rs 6.6 billion, driven by the marginally higher revenue, better mix and higher net interest income. While total volume was down, the premium brand Dunhill grew by 9% compared to the corresponding period of last year, led by its innovative variant Dunhill Switch.

Export sales revenue stood at Rs 47.6 million for the first nine months of 2013. The law enforcement agencies continued to effectively curtail the spread of unauthorised and illicit tobacco products. In the first nine months of this year, 709 raids yielded 45.7 million illegal sticks at a market value of Rs 1.28 billion. CTC's flagship CSR initiative, SADP (Sustainable Agricultural Development Program) focused on supporting 2,400 farmers in the districts of Kilinochchi, Kandy, Anuradhapura, Matara and Hambantota districts in the third quarter of 2013.