Saturday, July 30, 2011

CTC contributes Rs.30.6 bn to govt revenues in 2Q

Ceylon Tobacco Company contributed Rs.30.6 bn to government revenues in the 2nd Quarter of 2011. It was an increase of Rs.5.1 bn over last year. This is mainly attributed to positive business environment especially in the North and East, significant increase in tourism and active enforcement by law enforcement agencies to minimise counterfeit and smuggled cigarettes in the country. CTC’s profit after tax stood at Rs.2.6 bn, growth of Rs.0.9 bn over last year. 

The law enforcement agencies which continued to make commendable efforts in minimising the growth of illicit products entering the market conducted a total of 235 raids in the first six months of 2011, resulting in confiscation of 30 mn illegal sticks with a market value of Rs.480 mn.  Company’s flagship CSR programme, Sustainable Agricultural Development Programme (SADP) continues to progress.

The total number of families in the programme has now grown to 9,864 in 12 districts. So far, 3,843 families have completed the programme which will help them to reach a measure of economic self-sufficiency.   

The Directors recommend a second interim dividend of Rs.9.70 per share will be paid on the 16th of August 2011.

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