Ceylon Tobacco is looking to contain the impact from higher levies. It has shut some of its leaf depots and reduced factory shifts to curb costs. To sustain profitability it’s working on “smart cost management, streamlining processes, identifying consumer segments and addressing their needs,” said Ridley. The company is also widening its portfolio. It started selling its popular Gold Leaf brand in a smaller packet of 12 sticks apart from the 20-stick packet, introduced a new product Gold Leaf Red and is unveiling John Player Navy Cut, which will be sold for 40 rupees a stick. Still, those efforts may not completely offset the impact from the higher levies. Both revenue and net income will grow at a slower pace this year, according to Chayanika Ranasinghe, an analyst at CT CLSA Securities Ltd., in Colombo. The steep decline in sales volume seen after the November action is expected to “moderate, particularly if there are no further drastic tax increments or regulations,” she said. Ceylon Tobacco have climbed 24 percent this year, compared with the 4.3 percent gain in the nation’s benchmark Colombo All-Share Index. Measures being taken by Sri Lanka are in line with those by governments across the world to curb smoking. In 2015, the island nation ordered 60 percent of a cigarette packet’s surface be covered by pictorial health warnings and a few months later increased it to 80 percent . China, where 44 percent of all cigarettes are smoked, banned smoking in public places in 2015.
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Oct 3, 2017 - Evansville Courier & Press Gary Thurby, left, and Heath Thurby are third- and fourth-generation tobacco farmers at Thurby Farms in Henderson County, Ky., Friday afternoon. They are hoping the tobacco crop this year makes up for the meager harvest of the past two years. DENNY SIMMONS / COURIER & PRESS ( continue reading ) Click one of the buttons below or search. Here you can find useful examples and description about searching the news archive. Read it carefully to get the best results. If you need more help, please contact us. Searching is case insensitive. Words music and mUSIC return the same results. Some of the common words like the, is, etc. are not included in your search. The symbol "|" stands for OR and symbol "&" stands for AND.
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