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Ceylon Tobacco CTC EmptyFri Jan 24, 2020 10:08 am by lanka

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Ceylon Tobacco CTC EmptyFri Jan 24, 2020 7:05 am by nihal123

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Ceylon Tobacco CTC EmptyWed Jan 22, 2020 10:20 am by lanka

» In the Meantime, Within Our Shores !
Ceylon Tobacco CTC EmptyTue Jan 21, 2020 10:17 am by කිත්සිරි ද සිල්වා

» කොටස් තැරැව්කරුවෝ අගමැති මහින්ද හමුවෙති
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» Obituary Notice.
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» LOLC Holdings
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» SEYB.N0000 (Seylan Bank PLC)
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Ceylon Tobacco CTC EmptySun Jan 12, 2020 9:16 pm by lanka

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Ceylon Tobacco CTC EmptyMon Jan 06, 2020 2:41 pm by කිත්සිරි ද සිල්වා

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Ceylon Tobacco CTC EmptySat Jan 04, 2020 7:36 pm by spw19721

» ඉරානයට කළ ප්‍රහාරයෙන් පසු යුරෝපයේ කොටස් වෙළඳපොළ රැසක් පහළ වැටෙයි
Ceylon Tobacco CTC EmptySat Jan 04, 2020 1:30 pm by nihal123

» VAT අදාළ නැති කට්ටිය මෙන්න. 50,000 ක ලැයිස්තුවක්
Ceylon Tobacco CTC EmptyFri Jan 03, 2020 11:55 am by nihal123

» How to get Access to: 104 Technical trading experiments by HUNTER
Ceylon Tobacco CTC EmptyThu Jan 02, 2020 9:20 am by Admin

» ලංකාවේ ලොකුම සමාගම මෙන්න. දුම්කොළ සමාගම අභිබවමින් ජෝන් කීල්ස් යළිත් පෙරමුණට
Ceylon Tobacco CTC EmptyWed Jan 01, 2020 7:48 pm by Rana

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» Dividend Announcement
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Ceylon Tobacco CTC EmptyWed Jan 01, 2020 9:29 am by The Invisible

» People’s Bank, Sampath, and DFCC face penalties
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» NDB.N0000 (National Development Bank PLC)
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
Ceylon Tobacco CTC EmptyThu Dec 26, 2019 9:23 pm by spw19721

» Thought for the day...
Ceylon Tobacco CTC EmptyThu Dec 26, 2019 3:41 pm by Topcat

» ඩොක්ටර් ඒලියන්ත වයිට්
Ceylon Tobacco CTC EmptyThu Dec 26, 2019 9:15 am by කිත්සිරි ද සිල්වා

» Why (Happy) People Cheat?
Ceylon Tobacco CTC EmptyWed Dec 25, 2019 8:34 pm by pjrngroup

» Who killed Cock Robin?
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» 65 Ways to Make Money Online
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» සුළු හා මධ්‍ය පරිමාණ ව්‍යාපාරිකයින් ලබාගත් ණය අයකර ගැනීම අත්හිටුවන්න
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» ACL Cables
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» Sri Lanka to up employer EPF contribution to 15-pct, start social security fund
Ceylon Tobacco CTC EmptyWed Dec 18, 2019 2:46 pm by The Invisible

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» Sri Lanka can resume high growth path, cut more taxes: Mark Mobius
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» රතු වැටෙනකොට
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» Equation of Happiness Solved
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Ceylon Tobacco CTC

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Post by The Invisible on Sat Aug 10, 2019 10:26 am

Sri Lanka BAT unit June profits grow amid favourable weather

ECONOMYNEXT- Ceylon Tobacco Company Plc, the Sri Lankan unit of British American Tobacco, said that its net profits for the June quarter grew 7.5 percent from a year earlier to 4.7 billion rupees amid favourable weather and cost cutting to manage lower sales from an excise duty hike.
Earnings per share for the quarter were 25 rupees. For the 6 months to June, earnings per share were 46.68 rupees. The CTC share closed trading at 1,298.80 rupees on Thursday.
The firm's net revenue for the June quarter fell 6.8 percent to 36.2 billion rupees, while government levies on sales fell 8.6 percent to 27.6 billion rupees, leading to net revenue falling 10.3 percent to 8.6 billion rupees.

CTC, in a earnings statement, said that sales volumes fell due to excise duties on cigarettes being raised in quick succession in August 2018 and March 2019, and low consumer sentiment following the Easter Sunday attack.

Sales volumes of cigarette sticks had fallen 21.5 percent from a year earlier in the June quarter, the firm said.

Raw material costs fell 42 percent to 389 million rupees.

The firm said that with favourable weather, it has sourced more local leaf during the quarter, compared to high importation of tobacco leaf over the past two years due to poor weather.

Sri Lanka had experienced one of the worst droughts of the last 4 decades in 2017 and 2018, which had hit crop growing.

Other operating costs in June fell 31.4 percent to 589 million rupees amidst the firm's continuing efforts to cut costs to maintain profitability.

CTC warned that the growth in low-taxed and illegally smuggled cigarettes are a threat to the firm's sales and profitability.

Sri Lanka’s consumption of smuggled illegal cigarettes is estimated to exceed 500 million sticks annually, the company said.

This situation is expected to escalate as the price gap between the legal and illegal product widens, resulting from constant price hikes targeting the legal product, CTC said. (Colombo/09 Aug/2019)
The Invisible
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