Singer turnover tops Rs. 12b for 2006

PROFITS: Singer Sri Lanka continued its strong growth trends during 2006 with net Group revenue increasing from Rs. 10.9 billion to Rs. 12.2 billion (12%) while net revenue of the Company also recorded a 12% increase to Rs. 12.2 billion from Rs.10.8 billion in 2005.

Gross profit of the Group was Rs. 4,439 million in 2006 as against Rs. 3,583 million in 2005 recording a 24% growth. The Company’s gross profit increased from Rs. 3,533 million to Rs. 4,307 million - an increase of 22%.

The increase in gross profit percentage over and above the revenue percentage was due to commissions on Lanka Bell phone connections. Gross margin percentage increased from 33% to 36.3% for the Group while the Company’s margin percentage increased from 32.7% to 35.6%.