The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» අනං මනං! #/+?.<>
Ceylon Tobacco CTC EmptyYesterday at 8:18 pm by ruwan326

» Dividend Announcement
Ceylon Tobacco CTC EmptyYesterday at 6:04 pm by Ethical Trader

» Browns Investments update
Ceylon Tobacco CTC EmptyYesterday at 1:46 pm by The Invisible

» What Would You Do?
Ceylon Tobacco CTC EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
Ceylon Tobacco CTC EmptyMon Aug 19, 2019 10:13 am by Topcat

» Thread for News on Local and Foreign Politics
Ceylon Tobacco CTC EmptyMon Aug 19, 2019 6:32 am by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Ceylon Tobacco CTC EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
Ceylon Tobacco CTC EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
Ceylon Tobacco CTC EmptySun Aug 18, 2019 8:26 pm by The Invisible

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Ceylon Tobacco CTC EmptySun Aug 18, 2019 8:18 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
Ceylon Tobacco CTC EmptySun Aug 18, 2019 8:14 pm by The Invisible

» SAMP.N0000 (SAMPATH BANK PLC)
Ceylon Tobacco CTC EmptySat Aug 17, 2019 12:44 pm by nuwanmja

» Hayleys MGT
Ceylon Tobacco CTC EmptyFri Aug 16, 2019 8:55 pm by ruwan326

» CFVF - First Capital
Ceylon Tobacco CTC EmptyFri Aug 16, 2019 9:58 am by CK

» JINS.N0000 ( Janashakthi Insurance PLC)
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 4:57 pm by The Invisible

» Thread for News on CSE and SL Economy
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 9:22 am by The Invisible

» Ceylinco Insurance CINS
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 9:18 am by The Invisible

» HNB.N0000 ( Hatton National Bank PLC)
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 9:15 am by The Invisible

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 9:11 am by The Invisible

» Tourism Sector
Ceylon Tobacco CTC EmptyWed Aug 14, 2019 4:55 am by NIRMALSG

» LIOC.N0000 (Lanka IOC PLC)
Ceylon Tobacco CTC EmptyMon Aug 12, 2019 2:55 pm by xmart

» HAYL.N0000 Hayleys PLC
Ceylon Tobacco CTC EmptyMon Aug 12, 2019 1:43 pm by CK

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Ceylon Tobacco CTC EmptyMon Aug 12, 2019 1:33 pm by The Invisible

» Grain Elevators
Ceylon Tobacco CTC EmptyMon Aug 12, 2019 1:31 pm by The Invisible

» Sri Lanka sets US$3.5bn tea export target for 2030
Ceylon Tobacco CTC EmptyMon Aug 12, 2019 1:27 pm by The Invisible

» Tea: July 2019 national average shows gains month on month
Ceylon Tobacco CTC EmptySun Aug 11, 2019 9:19 pm by Topcat

» OSEA .N
Ceylon Tobacco CTC EmptySat Aug 10, 2019 6:40 pm by The Invisible

» Sri Lanka mulls reforms to punish 'errant' plantation companies
Ceylon Tobacco CTC EmptySat Aug 10, 2019 6:33 pm by The Invisible

» JKH.N0000
Ceylon Tobacco CTC EmptySat Aug 10, 2019 11:38 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
Ceylon Tobacco CTC EmptySat Aug 10, 2019 10:42 am by The Invisible

» Nestle NEST
Ceylon Tobacco CTC EmptySat Aug 10, 2019 10:28 am by The Invisible

» Ceylon Tobacco CTC
Ceylon Tobacco CTC EmptySat Aug 10, 2019 10:26 am by The Invisible

» Volkswagen කතාවේ ඇත්ත තත්ත්වය මෙහෙමයි.
Ceylon Tobacco CTC EmptyFri Aug 09, 2019 5:37 pm by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Ceylon Tobacco CTC EmptyFri Aug 09, 2019 5:07 pm by Ethical Trader

» VFIN - where the journey leads it?
Ceylon Tobacco CTC EmptyFri Aug 09, 2019 9:21 am by ruwan326

» UAL.N0000 ( UNION ASSURANCE PLC )
Ceylon Tobacco CTC EmptyFri Aug 09, 2019 9:20 am by ruwan326

» SPEN.N0000
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 10:20 pm by The Invisible

» Lanka Tiles
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 10:15 pm by The Invisible

» Expolanka
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 8:28 pm by ruwan326

» Tile - Snapshot
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 11:37 am by mymoney

» DPL.N0000 (Dankotuwa Porcelain PLC)
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 11:31 am by mymoney

» නිරුවත
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 9:36 am by කිත්සිරි ද සිල්වා

» HAYC - Haycarb
Ceylon Tobacco CTC EmptyThu Aug 08, 2019 7:32 am by Beta

» WATA - Watawala
Ceylon Tobacco CTC EmptyWed Aug 07, 2019 12:03 pm by lanka

» Chemanex
Ceylon Tobacco CTC EmptyWed Aug 07, 2019 6:40 am by The Invisible

» East West properties
Ceylon Tobacco CTC EmptyTue Aug 06, 2019 8:17 am by slstock

» CSE Market Wrap - 02.08.2019
Ceylon Tobacco CTC EmptyTue Aug 06, 2019 6:59 am by pjrngroup

» Kandy Hotels
Ceylon Tobacco CTC EmptyTue Aug 06, 2019 6:55 am by pjrngroup

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Ceylon Tobacco CTC EmptyMon Aug 05, 2019 10:07 pm by The Invisible

» 1000 Post Club | Celebration of a Great Milestone
Ceylon Tobacco CTC EmptyMon Aug 05, 2019 6:25 pm by pathfinder

August 2019
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
25262728293031

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Ceylon Tobacco CTC

Go down

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

Posts : 1168
Join date : 2016-11-28
Age : 39

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum