BAT's Lankan unit set to lose dominant position amid levies
Thu, Oct 05, 2017 - 5:50 AM
The Lankan unit of BAT's operating profit margin, the highest among listed Asian peers, narrowed to 64 per cent in 2016 from 67 per cent a year earlier in a cigarette market estimated at about US$1.1 billion.
BRITISH American Tobacco plc's unit in Sri Lanka says it's poised to lose its dominant position in the market to leaf-rolled cigars made by small local rivals.
Ceylon Tobacco Co's profit margin will continue to narrow as an increase in levies on cigarettes prompts some...