CTC PROFITS
February 1st, 2004
BY SWINEETHA DIAS WICKRAMANAYAKE
THE CEYLON Tobacco Company Ltd (CTC) reaped a trading profit of SLRupees 1,394 million (US$14 million) in its last financial year (ending December 31, 2003), 10 per cent up on the previous year. Total 2003 revenue was SLRupees 30.1 billion (US$300 million), from which CTC paid out SLRupees 25 billion (US$250 million) in excise and sales taxes. The Sri Lanka company said costs control, strategies favouring quality products and corporate social welfare policies were behind its success.
THE CEYLON Tobacco Company Ltd (CTC) reaped a trading profit of SLRupees 1,394 million (US$14 million) in its last financial year (ending December 31, 2003), 10 per cent up on the previous year. Total 2003 revenue was SLRupees 30.1 billion (US$300 million), from which CTC paid out SLRupees 25 billion (US$250 million) in excise and sales taxes. The Sri Lanka company said costs control, strategies favouring quality products and corporate social welfare policies were behind its success.
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