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Sri Lanka high tobacco taxes bring benefits 

Sri Lanka's high tobacco taxes and new laws have brought big benefits, with smokers and consumption falling, information filed by the multinational that has most of the island's cigarette market showed.

Ceylon Tobacco Company, a Colombo listed firm owned by British American Tobacco and Phillip Morris said revenues increased 12.6 percent to 11.8 billion rupees as prices were raised.

"Driven by the decline in the number of smokers and their average daily consumption levels, total industry volumes continued to decline during the period under review," the company said in a stock exchange filing.

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