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Ceylon Tobacco grows profits despite shrinking sales 

Contributes 7.6% of government’s tax revenue
Jump to full article: The [Sri Lanka] Island (lk), 2010-03-07

Intro:

Ceylon Tobacco Company PLC (CTC) has continued to skillfully walk a tight rope enhancing profitability despite contracting sales volumes by posting a group profit after-tax of Rs.4.1 billion in the year ended December 31, 2009, up from the previous year’s Rs.2.76 billion according to the company’s just published annual report.

CTC Chairman J.D. Bandaranayake claimed that the company had demonstrated corporate excellence during the year under review both from an operational and financial point of view.

"Hopefully society at large sees us as a responsible company in the conduct of all organs including the manner in which we market tobacco products," he said.

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