CTC contributes Rs 30.6 b to govt revenues

In last six months:

The Ceylon Tobacco Company contributed Rs 30.6 billion to government revenues in the second quarter of 2011. It was an increase of Rs.5.1 billion over last year.

Among other factors, this is also due to the significant increase in tourism and active enforcement by law enforcement agencies to minimise counterfeit and smuggled cigarettes in the country. CTC's profit after tax stood at Rs 2.6 billion, a growth of Rs.0.9 billion over last year.

The law enforcement agencies which continued to make commendable efforts in minimizing the growth of illicit products entering the market conducted a total of 235 raids in the first six months of 2011, resulting in the confiscation of 30 million illegal cigarettes with a market value of Rs 480 million.

The company's flagship CSR programme, the Sustainable Agricultural Development Programme (SADP) continues to progress. The total number of families in the programme has now grown to 9,864 in 12 districts. So far, 3,843 families have completed the programme which will help them to reach a measure of economic self-sufficiency.

The Directors recommend a second interim dividend of Rs 9.70 per share will be paid on August 16.

The Sustainable Agricultural Development Programme (SADP) was developed to enhance the living standards of the communities in which the company operates in. The vision of SADP is to reach out to rural villagers living below the poverty line and guide them to achieve self-sustenance by creating a paradigm shift in thinking, imparting knowledge and resources.