Ceylon Tobacco’s cigarette sales up in 3Q 2020

The Ceylon Tobacco Company’s performance in the three months ending 30th September 2020, showed a healthy recovery reverting to nearly early 2020 pre-pandemic levels and posted a growth in sales volumes in comparison to the previous quarter of the year due to countrywide resumption of economic activities from mid-May onwards, the company said in its latest quarterly financials. The financial further outline that the company’s turnover and the Government revenue through Excise and other levies for the quarter grew by 26% and 28%, respectively in comparison to the same period of last year. Further, the company’s profit before income tax for the period recorded Rs.8.5 billion, while the Company’s profit after tax for the three months ended 30th September reported as Rs.4.9 billion. Report further outlined that the business recovery for the quarter is encouraging and the Company is cautiously optimistic of the future in anticipation of the gradual revival of the economy and robust plans in place to drive productivity and efficiency improvements for the balance period of the year. CTC’s directors had recommend a third interim dividend of Rs. 19.00 per share to be paid on 9th December 2020 according to the financials.  

The post Ceylon Tobacco’s cigarette sales up in 3Q 2020 appeared first on Adaderana Biz English | Sri Lanka Business News.

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