Singer's profit goes up 24% in first quarter

Singer Bangladesh Ltd has posted a 24% profit growth in the first quarter of 2023 compared to the same period of the previous year.

During the period, the net profit of the company stood at Tk11.27 crore, which was Tk9.07 crore from one year ago.

Its earnings per share was Tk1.13. The figure was Tk0.91 in the same period last year. And net asset value per share was Tk31.10 as of 31 March 2023.

Singer Bangladesh was listed to the stock exchanges in Bangladesh back in 1983.

The company just sold sewing machines till 1985. Later, it started selling electronics items and home appliances.

Singer used to import 90% of its products and manufacture 10% a decade ago. Now, the company locally manufactures 62%, reducing its percentage of exports.