POST TIME: 13 February, 2020 08:22:16 AM
Singer Bangladesh posts 12pc rise in earnings

Singer Bangladesh posts 12pc rise in earnings

Singer Bangladesh Limited recorded a 12 per cent increase in earnings in 2019 while the turnover increased by 14.2 per cent to Tk 15.5 billion, a press statement said.

 The company maintained its long history of strong dividends, declaring a 77 per cent cash dividend amounting to Tk768 million.

Operating profit during the period rose by 17.6 per cent with higher operating margins at 12.6 per cent versus the prior year of 12.2 per cent.  

Singer continued to focus on managing operating expenses, which is 16.5 per cent in 2019 against 16.7 per cent in the prior year.

Profit after tax increased by 12 per cent to Tk 1,032 million, with earnings per share increasing at the same rate to Tk 10.35 per share.

During 2019, Emerging Credit Rating Limited (ECRL) announced that it has maintained its AAA long-term credit rating for Singer Bangladesh with a stable outlook for the company, the statement added.