Ceylon Tobacco Company PLC (CTC.N0000) engages in the manufacture, marketing, and export of cigarettes. It offers its products primarily under the Dunhill, Pall Mall, John Player Gold Leaf, Three Roses, Capstan, and Four Aces brand names. The company was incorporated in 1932 and is headquartered in Colombo, Sri Lanka. Ceylon Tobacco Company PLC is a subsidiary of British American Tobacco Holdings (Sri Lanka) BV.
First Quater - 2013 Performance
CTC's first quater 2013 profits declined 2% YoY to LKR1.5bn on the back of a drastic reduction in volumes (c.14% YoY) and a one-off reduction in other operating expenses in 2012. CTC's net revenue after taxes grew marginally by 3% YoY to LKR4.7bn solely on price revisions and higher margin Dunhill sales. The pending pictorial warnings on cigarette packs may further dampen volumes. In 2013E, expects CTC's earnings to marginally grow 4%YoY to LKR8.5bn (vs. our previous estimate of LKR9.6bn). CTC currently trades at a forward PER of 18x and at a 29% premium to CAL's fair value of LKR626. CAL maintains a SELL on CTC.
Below Capital Alliance Research Report
Lanka Stocks show some past performance last three years,
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| Last Three years price performance trend |
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| Last year price performance trend |
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| Last month price trend |
Conclusion
According to the Capital Alliance research report CTC fair price lower than Current price, but in last three years price trend show in increased manner.
Ceylon Tobacco Company PLC Performance
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Oleh
Lanka Stocks
