Ceylon Tobacco Company (CTC) secured the fourth position among Business Today ‘Top 25’ corporates at the award ceremony held recently in Colombo. The awards platform recognizes the financial performance of established blue-chip organisations that stabilize the growing Sri Lankan economy. This is the fifth consecutive year that CTC has been ranked among the top five public listed corporate entities in the country by Business Today.
Financial criteria considered for the ranking went beyond merely turnover to include, revenue, profit after tax, growth in sales turnover, growth in profit, return on equity, growth in earnings per share, market capitalization, value of shares transacted and value addition.
CTC Legal and External Affairs Director Dinesh Dharmadasa, speaking at the award ceremony, said, “I consider it an honour to accept this award and acknowledge this achievement on behalf of the company. In spite of the fact that we have come down by one position from last year, we are extremely happy in being positioned fourth because we have succeeded in being placed among the Top 10 for 10 consecutive years. CTC has performed commendably to achieve this recognition even with our volumes declining more than 20 percent in 2014, which is not an easy task. Unfortunately however our loss in volumes, only created another winner – a non-regulated and non-taxed product – Beedi, which grew its volumes by nearly 200 percent in the past seven years.”
Speaking on winning the BT award, CEO and Managing Director Felico Ferraz said, “We are humbly proud to win this accolade as it reflects not only our strong financial performance despite the many challenges laid before us but also our contribution to the country’s economy. Our continued achievements in this regard can be attributed to our sustainable business model, commitment to corporate excellence and the passion of our people. The challenges presented to us in the past year have undoubtedly pushed us to excel. This award is yet another valuable benchmark for us to assess our performance and ascertain future growth strategies for the company.”