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» Coronavirus Updates
Ceylon Tobacco CTC EmptyToday at 9:36 am by The Invisible

» Thread for News on CSE and SL Economy
Ceylon Tobacco CTC EmptyYesterday at 5:21 pm by NIRMALSG

» Obituary Notice.
Ceylon Tobacco CTC EmptyYesterday at 12:51 pm by කිත්සිරි ද සිල්වා

» Access Engineering AEL Technical Analysis
Ceylon Tobacco CTC EmptyTue Jun 30, 2020 11:00 am by HUNTER

»  6000 Post Club , Celebration of a Great Milestone, Slstock
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» LIOC.N0000 (Lanka IOC PLC)
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» How to get Access to: 104 Technical trading experiments by HUNTER
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» Sri Lanka to monetize tens of billions of contractor bills
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» CFVF - First Capital
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» RCL - Royal Ceramics
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» Stocks - Banks Drag Wall Street Lower After Fed Buyback Ban; Dow Down 290
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» PABC.N0000 (Pan Asia Banking Corporation PLC)
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» JKH.N0000
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» Plantation sector updates
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» Dividend Announcements
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» In the Meantime, Within Our Shores !
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» LOLC Holdings
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» The Central Bank of Sri Lanka Further Reduces the Statutory Reserve Ratio
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» Sri Lanka tea prices pickup marginally mid June
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» කොළඹ කොටස් වෙළඳපොළ ඩිජිටල්කරණය කිරීමේ වැඩපිළිවෙල ඇරඹෙයි
Ceylon Tobacco CTC EmptySun Jun 21, 2020 12:55 pm by HUNTER

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» SAMP.N0000 (Sampath Bank PLC)
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» HAYC - Haycarb
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» HAYL.N0000 Hayleys PLC
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» GLAS.N0000 (Piramal Glass Ceylon PLC)
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» Sri Lanka bank forex funding pressures, bad loans to rise after Covid-19: Fitch
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» Sri Lanka telecom regulator asked find businesses to use Lotus Tower
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» Gota's Era
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» සල්ලි අච්චු ගැසුවාද?
Ceylon Tobacco CTC EmptyWed Jun 10, 2020 11:35 pm by nihal123

» වටිනා පාඩමක්!
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» Sri Lanka’s General Election on August 05
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» Hayleys MGT
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» AEL Access Engineering
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» Sri Lanka import controls, cargo bottleneck hit apparel exporters
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» Sri Lanka tea prices ease lower, low growns drive May average to all time high
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» Sri Lanka plans to allow tourists from August, no mandatory quarantine
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» HHL.N0000 ( Hemas Holdings PLC)
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» LION.N0000 (Lion Brewery Ceylon PLC)
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» කොටස්--වෙළෙඳපොළ--වැසුවාද
Ceylon Tobacco CTC EmptyWed Jun 03, 2020 9:49 pm by nihal123

» විදෙස් ආයෝජකයින්ගේ උනන්දුව ඉහළට
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» United Motors
Ceylon Tobacco CTC EmptyWed Jun 03, 2020 5:26 pm by The Invisible

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Ceylon Tobacco CTC

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Ceylon Tobacco CTC Empty Ceylon Tobacco CTC

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
The Invisible

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