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Colombo (ANTARA News/Asia Pulse) - Ceylon Tobacco Company, the Sri Lanka unit of British American Tobacco, said its profits grew 49 per cent to 4.1 billion rupees (US$35.8 million) despite falling sales as the firm cut costs and changed brands. The firm is the sole branded cigarette maker in the island.

CTC said smokers had helped the government raise 52.4 billion rupees in taxes to the state with the CTC itself charged 2.9 billion rupees as income tax for 2009.

Total sales inclusive of state levies had grown 6.0 per cent to 58.0 billion with tax and price increases, while net revenue for the company had grown 10.5 per cent to 12.3 billion rupees.


Source:
Business in Asia Today - Feb. 2, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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