Ceylon Tobacco March PAT flat as Rs 3.9B - Sales up 3.8%
The Ceylon Tobacco Company PLC’s profit before income tax for the period recorded Rs 6.7 bn, while the Company’s profit after tax for the three months ended 31st March 2021 reported as Rs 3.913 bn, (Compare to Rs 3.930 bn in 31st March 2020) the company stated yesterday. “The Company’s performance in the three months ended 31st March 2021, showed a marginal recovery from the prolonged impact of COVID-19 pandemic,” it stated. The sales volumes were increased to 3.8% to Rs 34.7 M in comparison to the same period last year.
Consequently, the Company’s turnover and the Government revenue through Excise and other levies for the quarter grew by 1.5% and 1.6%, respectively in comparison to the same period of last year. The Directors recommend a first interim dividend of Rs 19.00 per share to be paid by the 10th June 2021. The Company also stated that they were committed towards the continuation of business activities subject to strict compliance with employee health and safety guidelines and other directions of the Government and is cautiously optimistic of the future in anticipation of effective management of the third wave of the Covid-19 pandemic and gradual revival of the economy.