Singer's profit rises 37pc | The Daily Star
12:00 AM, March 16, 2018 / LAST MODIFIED: 12:00 AM, March 16, 2018

Singer's profit rises 37pc

Singer Bangladesh's profit rose 37.4 percent year-on-year to Tk 74.60 crore last year thanks to the increasing sales.

Earnings per share went up to Tk 9.79, the listed company said in a statement yesterday.

The company maintained its long history of announcing high dividends, declaring 100 percent cash dividend amounting to Tk 76.60 crore in 2017, marking a year-on-year rise of 43 percent.

“Singer Bangladesh's revenue increased an impressive 60 percent over the past two years, with net income more than doubling in that period,” said Gavin Walker, chairman of the company.

“These results demonstrate that Singer has continued to build on its position as the leading international appliance brand in Bangladesh.”

The company's turnover rose 23 percent year-on-year to Tk 1,110 crore last year.

Singer continued its efforts to lower operating expenses, which came down to 17.7 percent of the revenue in 2017 from 18.4 percent a year ago.

The company gained significant increases in unit sales, boosted by lower prices at the customer level and increased advertising spending.

Computer sales rose 129 percent, air conditioners 34 percent, washing machines 33 percent, panel televisions 32 percent and refrigerators by 28 percent.

In 2017, Emerging Credit Rating Ltd announced that it maintained its “AAA” long-term credit rating for Singer Bangladesh with a stable outlook.

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