Opening of the North and East to normal business activity and increasing tourist arrivals helped Ceylon Tobacco Co (CTC), Sri Lanka’s monopoly cigarette maker, sell much more fags in the second quarter (to June) of 2011.
The company said CTC contributed Rs.30.6 billion to government revenues in the 2ndQ 2011, sharply up by Rs.5.1 billion in the same period last year, due 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 billion, up by Rs.0.9 billion 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 million illegal sticks with a market value of Rs.480 million,” the company said.
The 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. |
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