CTC cigarette packs will carry 60% health warning from Jan. 2015
View(s):All cigarette packets manufactured by Ceylon Tobacco Co (CTC) will carry pictorial warnings covering 60% of the front and back surfaces of the packs from 1st January 2015 onwards in line with a Supreme Court ruling, the company said.
It said in according to the deadlines set by the court, all cigarette packets manufactured and issued before 1st January 2015 should be sold before 1st February 2015.
Releasing its 9-month results ending 30 September 2014, CTC said it contributed Rs. 54 billion to government revenue, up 12 per cent over same period last year. This was achieved despite a 10 per cent volume drop in the domestic sales, driven pre-dominantly by challenging market conditions.
“Sri Lanka Customs statistics indicate that Beedi volumes have grown by almost 200 per cent over the past six years. This growing preference can be attributed to Beedi remaining a cheap substitute to the cigarette smokers in Sri Lanka. The growth in Beedi together with the prevalent drought conditions in some parts of the country and its impact on disposable income significantly contributed to the decline in cigarette volumes,” the report said.
CTC’s post tax profit stood at Rs. 6.6 billion for the first 9 months ended 30th September 2014.
Although volumes in totality were lower than the same period last year, investments continued to infuse value in its mainstream brand John Player Gold Leaf with the successful implementation of the pack upgrade. Export sales revenue increased by Rs. 145 million. The company said it plans to improve its export performance into the future.