Tuesday, 21 March, 2023

Singer’s turnover increases to Tk 17.1bn in 2022

  • Staff Correspondent
  • 26 January, 2023 12:00 AM
  • Print news

Singer Bangladesh’s business turnover has increased to Tk 17.1 billion in 2022 compared to the previous year with a growth of 8.1 percent.

The announcement came while disclosing its audited results for the year ending December 31, 2022.

The company continued to focus on managing operating expenses, which was 18.5 percent of revenue in 2022 slightly increased from 18.1 percent in the prior year, said a press relesae.

 The expenses grew at a rate less than revenue growth.

Financial expenses are higher than last year mainly for the utilisation of borrowing at a higher level due to the overall low sales and increase of product cost coupled with higher interest rates as well.

Profit after tax decreased from Tk 518.4 million to Tk 73.1 in 2022, with earnings per share decreasing from Tk 5.2 to Tk 0.73 mainly because of less margin in Q3 and Q4, 2022.

The ETR is higher than last year due to the minimum tax rate in both business income from trading and manufacturing.

Net operating cash flow per share stands Tk 18.2 which was (Tk. 16.6) in the previous year. 

The company announced 10 percent cash dividend for its shareholders.