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CTC rises to No. 3 in Business Today Top 25
The Business Today Top 25 were selected on the basis of financial performance during the financial year ending 31 December 2013 and 31 March 2014. Corporates were evaluated based on a vast number of indicators including share turnover, revenue, profit after tax, return on equity, earnings per share, market capitalisation, value of shares transacted and value addition.
Recognising corporates that are distinctively outstanding, the Top 25 reflect perseverance, ability to create, identify and harness new opportunities as well as undeterred strength to perform in varying circumstances.
Despite challenges in top line growth, pricing, harvest being affected by twin natural calamities, CTC’s contribution to Government revenue through excise, taxes and levies saw an increase to Rs. 76.5 billion.
Commenting on CTC’s performance, Managing Director and CEO Felicio Ferraz said: “These achievements are outcomes of our sustainable business model, strong values and power of the corporate brand. The challenges we have faced have been instrumental in pushing us to deliver exceptional results. We are also amongst the ’10 Best Corporate Citizens’, ‘15 Great Places to Work’ and one of the ‘Most Respected Entities’ in the country, which are all evidence of a corporate that places emphasis and excels in every sphere of its operations. ”
CTC has a long history of being amongst the top blue-chip companies in Sri Lanka, one that was built by constantly focusing on quality, innovation and product reach. Ferraz further noted: “Creating an improved mix of products through John Player Gold Leaf Special, Dunhill Switch and Bristol played an integral role in generating revenue. Premium brands have been driving significant returns and will continue to be a major focal point for CTC.”
With the forecasted growth in the tourism sector, the company’s strategy is based on stabilising volumes. CTC has also initiated numerous programmes to increase efficiency of its processes as well as introducing new technology and blends to continue manufacturing high quality products.