Aug 17, 2020

Ceylon Tobacco sales plunge

Sales volumes of the Ceylon Tobacco Company have dipped significantly, after being impacted by the lockdown measures and impact to National as well as personal economies of consumers owing to the Covid-19 pandemic.

In the three months ended 30th June 2020, sales volumes declined by 38% with gradual resumption of activities from mid-May onwards. Consequently, the Company’s turnover of LKR 24.1 billion and Government revenue through Excise and other levies of LKR 18.6 billion for the period were reduced by 33% compared to the same period last year.

The company has released its latest financial statements showing a turnover of Rs. 24.1 billion and the amount of taxes paid to the government was Rs. 18.6 billion, down 33%.