According to the results, turnover increased by 26.2% in Q2, and the company continued to enjoy stable trading conditions throughout the period
Singer Bangladesh Limited has announced its unaudited results for the quarter ended on Monday, June 30, 2018.
According to the results, turnover increased by 26.2% in Q2, and the company continued to enjoy stable trading conditions throughout the period.
Gross margins were at 26.7%, slightly lower than the prior year on account of price promotions to boost air conditioner sales following the persistent inclement weather. Profit after tax increased by 23.5% to Tk400 million during Q2, with earnings per share increasing by 22%.
Singer’s associate company International Appliances Limited continued to increase production of refrigerators, with strong sales expected ahead of Eid ul-Azha, during Q3 2018.
Singer’s financial service offerings, including Western Union, Bkash, Grameen airtime reloads and utility bill payments, increased in value by 23% in the first 6 months of the year, bringing over 120,000 additional customers to the stores during the period.