Singer Bangladesh Limited reported record Eid-ul-Azhafestival sales in 2018, whilst reporting its unaudited results for the quarter ended September 30, 2018 .
Turnover for the third quarter increased by 26.1% to Tk1,160 crore, while operating profit increased by 41.3%, with higher gross margins at 26.9%, compared to 26.5% in the previous year, said a press release.
The company’s profit after tax deductions increased by 23% to Tk84.05 crore. Earnings per share also increased at the same rate.
Commenting on the third quarter results, Singer Bangladesh Chairman Gavin Walker said: “We thank the Singer management and staff for their massive effort and commitment to achieve the great results in this challenging trading environment. The 23% increase in the third quarter net income is most commendable with improved margins and lower costs.”