Singer records strong 3Q results

PROFITS: Singer Sri Lanka recorded strong Third Quarter results above the industry average recording a 26% sales growth and a Net Revenue of Rs 3.2 million.

Singer Sri Lanka Chairman Hemaka Amarasuriya told the shareholders that the results ahead of the Fourth Quarter augurs well for a strong 2006.

On a year-to-date basis, Singer revenues grew by 19.5% (Rs 9.4 million) and gross profit by 22% (Rs 6.1 million). "This indicates that we are in a position to sustain above average revenue growth without sacrificing margins," Chairman Amarasuriya states in his Quarterly Review.

As for the expenses growth of 19.5%, he points out that expenses continue to rise as the company builds the infrastructure needed for driving a customer centric business.