Earnings Report /
Sri Lanka

Ceylon Tobacco: 2Q CY21 - Waning consumer outlook to impact CY21E volumes

  • Lower disposable incomes to impact volumes in CY21E

  • Packing material imports offset benefits of local leaf supply

  • We downgrade CTC to a HOLD with a revised TP of LKR 1,005/share

Asia Securities
20 August 2021
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