Ceylon Tobacco Company

From WikiCigar
Jump to navigation Jump to search

Ceylon Tobacco Company PLC
TypePublic
CSE: CTC.N0000
ISINScript error: No such module "WikidataIB".
IndustryScript error: No such module "WikidataIB".
PredecessorScript error: No such module "WikidataIB".
FoundedScript error: No such module "WikidataIB".
FounderScript error: No such module "WikidataIB".
DefunctScript error: No such module "WikidataIB".
SuccessorScript error: No such module "WikidataIB".
Headquarters
Colombo
,
Sri Lanka
Area served
Sri Lanka
Key people
RevenueScript error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Total assetsScript error: No such module "WikidataIB".
Total equityDecrease Rs 4.602 billion (2020)[1]
OwnerBritish American Tobacco
Number of employees
Script error: No such module "WikidataIB".
ParentBritish American Tobacco Holdings (Sri Lanka) BV (84.13%)
Philip Morris International (8.32%)[1]
Websiteceylontobaccocompany.com
Footnotes / references
[2][3]

Ceylon Tobacco Company PLC (CTC) is a Sri Lankan tobacco company engaged in the manufacture, marketing and export of cigarettes.[4] It is a subsidiary of British American Tobacco.[5][6] CTC holds the monopoly of cigarette and tobacco sales in Sri Lanka. British Tobacco start sale cigarette in 1904-1911. CTC has a primary listing on the Colombo Stock Exchange since 1980s.[7]

Ownership

84% of the company is owned by British American Tobacco International and minor stake owned by Philip Morris International. Company market capitalization is approximately US$1.5 billion. It is the most valuable company in Sri Lanka.[8]

History

In 1905, the British Ceylon Government's leaf restraining infrastructure was reached out to a total takeover of all tobacco business activities in the country, including all made tobacco items like dumkola. Before 20th Century 90% of raw tobacco brought into the United Kingdom.[9]

The Company started in 1906 and was owned by the British American Tobacco. Its first office was located in Prince Street, Colombo. By 1954, the company had become a Public Limited Company, company listed on Colombo stock market since 1950s. It's the earliest stock listed company in Sri Lanka.[10] In 1980s Sri Lanka total tobacco crops increase to 15,594 ha.[11] By 2010 it was producing 3.189 metric tons. The number of registered tobacco growers rose during the 1980s and most of the 1990s, but fell sharply in 1998 and 1999. It is estimated that tobacco growing provides between 5,355 and 16,580 full time equivalent jobs.[12]

In 1997 cigarette manufacturing accounts for an estimated 89% of the value and 50% of the volume of all tobacco products sold in Sri Lanka. The 2018 survey found that 45.7% of men and 5.3% of women currently used tobacco.[13]

Cigarette production[14]
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Production (million stick) 4,859 4,945 4,791 4,670 4,467 4,101 4,286 4,469 4,320 4,035 3,777 4,116 3,789
Revenue (billion LKR) 23.5 27 30.1 31.4 37.3 37.6 40.7 49.6 53.6 58.6 57.2 80 88.8
Raw tobacco (tons) 4,390 4,210 3,710 4,150 3,770 3,810 4,200 3,470 3,620 5,040 3,322

Government TAX

Price components Goldleaf cigarette (LKR)[15]
2008 2009 2010 2011 2012 2013 2014 2015 2016
Price 16 18 20 22 25 28 30 33 50
VAT 2.09 1.93 2.14 2.36 2.68 3.00 3.21 0 0.7
Tax share 75.5% 72.2% 69% 67.8% 67.9% 66.2% 68.1% 65.5% 76%

Sri Lanka direct and indirect cost of tobacco amounted to LKR 110 billion (the equivalent if 7% if Government revenue) Sri Lankan Government has been taxing tobacco since 1953. Tobacco tax collection in Sri Lanka has as of late been portrayed by politicisation and nearsightedness that brought about problematic accomplishment of monetary and wellbeing destinations. In any case, tobacco stays an essential supporter of the Treasury and it is important that policymakers get in right.[14]

Sri Lanka demands a combination of assessments on tobacco among which extract charges are observable. From 1999 the tobacco charge was stretched out to incorporate produced tobacco further the Minister of Finance in control was given power to change the expense rate by a request distributed in the public authority Periodical.[16]

Page Template:Graph:Chart/styles.css has no content.<graph>Script error: No such module "Graph".</graph>

Brands

CTC is the only legal cigarette manufacture and importer in Sri Lanka. The total marketable space is 5 billion sticks. The beedi market is around 2.3 billion sticks. According to the company it has 95% of the total market with 5% to illicit trade. BAT's decision to concentrate efforts on six Global Drive Brands has resulted in changes in CTC's brand portfolio, with newer brands like Dunhill and Viceroy being introduced over the past few years. Viceroy replaced Bristol which was the leading low price brand. Efforts to move consumers from Bristol to Goldleaf has retained 83% of their Bristol market segment along with 70% of volumes. JPGL and Pall Mall together brings 70% of the total sales.[17]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Ceylon Tobacco Company Annual Report 2020" (PDF). Ceylon Tobacco Company.
  2. ↑ "Ceylon Tobacco Company Annual Report 2012" (PDF). Colombo Stock Exchange. p. 70. Archived from the original (PDF) on 2013-12-15. Retrieved 2013-12-15.
  3. ↑ "Ceylon Tobacco Company Annual Report 2012" (PDF). Colombo Stock Exchange. p. 72. Archived from the original (PDF) on 2013-12-15. Retrieved 2013-12-15.
  4. ↑ "Ceylon Tobacco Company PLC". Financial Times.
  5. ↑ Samath, Feizal (21 February 1999). "Snags hold up cigarettes and alcohol advertising ban law". The Sunday Times (Sri Lanka).
  6. ↑ "Maithripala's outburst shocks Sri Lanka Inc, CTC denies". Daily FT. 26 September 2013. Archived from the original on 15 December 2013. Retrieved 15 December 2013.
  7. ↑ "Colombo Stock Exchange". Colombo Stock Exchange. Retrieved 2021-12-30.
  8. ↑ LBO (2018-08-13). "Ceylon Tobacco (CTC) pays taxes of Rs63bn, keeps Rs8bn for itself at halfway mark for 2018". Lanka Business Online. Retrieved 2020-11-13.
  9. ↑ Maclaren, W. A. Ed (1923). Coffee, Spices And Tobacco.
  10. ↑ "Ceylon Tobacco Company - Our history". www.ceylontobaccocompany.com. Retrieved 2020-11-13.
  11. ↑ "UNdata | record view | Tobacco, unmanufactured". data.un.org. Retrieved 2020-11-13.
  12. ↑ "World's Leading Tobacco Producing Countries". AtlasBig. Retrieved 2020-11-13.
  13. ↑ "WHO Sri Lanka Country report" (PDF). WHO.{{cite web}}: CS1 maint: url-status (link)
  14. ↑ 14.0 14.1 "Sri Lanka Tobacco use and taxation" (PDF). Archived from the original (PDF) on 19 February 2020. Retrieved 2021-12-30.
  15. ↑ "Tobacco Control Legislation and Taxation" (PDF). World Bank. Archived (PDF) from the original on 2020-12-07.
  16. ↑ "Developing a sensible stance on tobacco taxation | Daily FT". www.ft.lk. Retrieved 2021-12-30.
  17. ↑ "Sri Lanka- Country Profile - TobaccoTactics". tobaccotactics.org. Retrieved 2021-12-30.

External links

  • Script error: No such module "Official website".
Retrieved from "http://wikicigar.org/index.php?title=Ceylon_Tobacco_Company&oldid=20936"