Govt. inhales Rs. 5.1 b extra from fags

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Ceylon Tobacco contributes Rs. 30.6 b to State coffers in six months

1H after tax profit up Rs. 900 million to Rs. 2.6 b

Ceylon Tobacco Company said yesterday it has contributed Rs. 30.6 b to Government revenue in the first half of 2011, up by Rs. 5.1 b over last year.

The increase was mainly attributed to the positive business environment especially in the north and east, 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 b, growth of Rs. 0.9 b over last year.

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

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, which will be paid on 16 August 2011.

Ceylon Tobacco Company (CTC) has a proud history of over 100 years in Sri Lanka and for decades we have worked in harmony with the rural communities of the country.

The SADP was developed to enhance the living standards of the communities in which we operate in. The vision of SADP is to reach out to rural villagers living below the poverty line in lagging regions of Sri Lanka and guide them to achieve self-sustenance by creating a paradigm shift in thinking, imparting knowledge and resources.

The beneficiaries of SADP are families living below the poverty line in the poorest districts in the country. By sharing CTC’s years of expertise in agriculture, SADP aims to alleviate poverty among rural communities in Sri Lanka.

SADP provides families with inputs to develop home gardens, poultry, animal husbandry, apiculture and mushroom cultivation with the necessary knowledge, skills and supervision. Families who successfully graduate from SADP are economically self-sufficient and are able to meet their daily nutritional requirements.

The SADP developed by CTC is fully aligned with the national priority of poverty alleviation through agriculture. SADP is in line with the ‘Api Wawamu Rata Nagamu’ (‘Let Us Cultivate and Uplift the Nation’) programme, which promotes cultivation of vegetables, fruits, yams and herbal plants to meet the daily needs of households.

SADP is also aligned with the ‘Divi Neguma’ (‘Building Lives’) programme, which promotes one million home gardens for a sustainable agricultural nation with the aim of achieving sustainable earnings, food security and higher income for the beneficiaries of the programme.