Singer's operating profit rises 40pc

Singer Bangladesh, a listed company, saw a 40 percent increase in its operating profit last year.

Reporting its audited results for the year, it said its profit after tax increased by 23 percent to Tk 92 crore, says a press release.

Based on this profit, the company directors announced 30 percent stock dividend in its board meeting on Thursday.

“Revenue of the company has doubled over the past three years, with net income increasing 2.5 times in that period,” said Gavin Walker, chairman of Singer Bangladesh.

“We plan to further increase our retail space and dealer numbers to capitalise on the opportunities available in this fast growing and exciting sector,” he added.

The company said it has continued to increase unit sales, in particular computers by 70 percent, panel televisions 28 percent, washing machines 24 percent, kitchen & small appliances 20 percent and refrigerators 17 percent.