Continuing its impressive 2010 financial year, Singer Sri Lanka concluded the third quarter by posting dominant revenue and profit results with its CEO Asoka Pieris saying that the company continued its growth trend of the first two quarters.
Third quarter revenue was the highest for the year, with a growth of 38% against the previous year attesting to Singer Sri Lanka’s leadership position, the company said in a statement. Year to date revenue increased by 31% compared to the 2009 financial year. This growth in revenue was fuelled by an increasing demand for the company’s products and services, including refrigerators, televisions, washers, furniture, DVD players, audio equipment, kitchen appliances and fans. Singer third quarter profits before tax climbed by Rs. 214.7 million.
“With consumer preferences shifting towards more premium products, the company is well positioned to give Sri Lankans exactly what they desire. For example, Singer Sri Lanka’s recent introductions of air conditioners and personal computers have proven to be huge hits, with very strong growth in their respective product categories,” it said.
Singer said that as the nation’s economy improves, the company’s future prospects become even more favourable. “The company, which has long been the market leader in consumer durable goods, looks certain to assume an even more dominant industry position in the final quarter of the 2010 financial year through its continued dedication to world-class products and customer service,” it said. |
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