Ceylon Tobacco Company facts for kids
Logo of Ceylon Tobacco Company
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| Public Subsidiary | |
| Traded as |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=LK0042N00008 LK0042N00008] |
| Industry | Tobacco |
| Founded | 1906 |
| Headquarters |
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Sri Lanka
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Key people
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| Revenue |  LKR134.369 billion (2021) |
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Operating income
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LKR26.127 billion (2021) |
| LKR16.146 billion (2021) |
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| Total assets | LKR26.468 billion (2021) |
| Total equity | LKR8.987 billion (2021) |
| Owners |
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Number of employees
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269 (2022) |
| Parent | British American Tobacco International Holdings BV (84.13%) |
The Ceylon Tobacco Company PLC (CTC) is a company in Sri Lanka. It makes, sells, and exports cigarettes. It is part of a bigger company called British American Tobacco. CTC is the only company allowed to sell cigarettes and tobacco in Sri Lanka. British Tobacco started selling cigarettes in Sri Lanka around 1904-1911. CTC has been listed on the Colombo Stock Exchange since the 1980s. This means its shares can be bought and sold by the public.
Contents
Who Owns CTC?
Most of the Ceylon Tobacco Company (about 84%) is owned by British American Tobacco International. A smaller part is owned by Philip Morris International. CTC is the most valuable company in Sri Lanka. Its total value is about US$1.5 billion.
A Look Back: CTC's History
In 1905, the government in British Ceylon (which is now Sri Lanka) took control of all tobacco businesses. This included making and selling tobacco products.
The Ceylon Tobacco Company itself started in 1906. It was owned by British American Tobacco from the beginning. Its first office was in Prince Street, Colombo. By 1954, CTC became a Public Limited Company. This meant it could sell shares to the public. It was one of the first companies to be listed on the Colombo stock market in the 1950s.
During the 1980s, the amount of land used to grow tobacco in Sri Lanka increased a lot. It reached about 15,594 hectares. By 2010, the company was producing 3,189 metric tons of tobacco. The number of people growing tobacco also went up in the 1980s and most of the 1990s. However, it dropped quickly in 1998 and 1999. It is thought that growing tobacco provides jobs for many people in Sri Lanka.
In 1997, making cigarettes made up a big part of all tobacco products sold in Sri Lanka. It accounted for about 89% of the value.
Government Taxes on Tobacco
The Sri Lankan government collects taxes on tobacco products. This has been happening since 1953. These taxes help the government earn money. The government has changed how it taxes tobacco over the years. Since 1999, the tax has included manufactured tobacco. The Minister of Finance can also change the tax rate.
Cigarette Brands
The Ceylon Tobacco Company is the only company legally allowed to make and import cigarettes in Sri Lanka. The company sells about 5 billion cigarettes each year. CTC says it has about 95% of the total market. The remaining 5% is from illegal trade.
CTC has introduced new brands like Dunhill and Viceroy. Viceroy replaced Bristol, which used to be a very popular low-priced brand. The company has tried to encourage people who smoked Bristol to switch to Goldleaf. Many people did switch, keeping a lot of their customers. Two other brands, JPGL and Pall Mall, make up 70% of the company's total sales.
Images for kids
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Logo of Ceylon Tobacco Company
