Singer Finance PLC Announces Financial Results for the Quarter and Six Months Ended September 30, 2018
November 01, 2018 at 07:14 am EDT
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Singer Finance (Lanka) PLC announced financial results for the quarter and six months ended September 30, 2018. For the quarter, the company reported net interest income of LKR 537,536,000 against LKR 408,604,000 for the same period a year ago. Net operating income was LKR 586,675,000 against LKR 431,973,000 for the same period a year ago. Profit before tax was LKR 221,358,000 against LKR 155,668,000 for the same period a year ago. Net profit for the period was LKR 139,673,000 against LKR 95,589,000 for the same period a year ago. Basic earnings per share were LKR 0.69 per share against LKR 0.58 per share for the same period a year ago.
For the six months, the company reported net interest income of LKR 1,045,418,000 against LKR 804,879,000 for the same period a year ago. Net operating income was LKR 1,103,686,000 against LKR 829,549,000 for the same period a year ago. Profit before tax was LKR 406,511,000 against LKR 295,381,000 for the same period a year ago. Net profit for the period was LKR 257,313,000 against LKR 185,704,000 for the same period a year ago. Basic earnings per share were LKR 1.27 per share against LKR 1.12 per share for the same period a year ago.
Singer Finance (Lanka) PLC is a Sri Lanka-based mid-sized licensed finance company. The principal activities of the Company consist of finance leasing, gold loans, financing of consumer durables under loan scheme and granting loans, factoring, authorized foreign currency dealer and mobilizing fixed deposits and savings deposits. The Company operates through three segments: Finance Lease, Loan & Advances, and Other. The Companyâs products include fixed deposit, savings accounts, online banking, debit card, leasing, gold loans, factoring, consumer finance, foreign currency exchange and western union. The Company's online services include facility payments, online banking, real-time payment update, short message service (SMS) alert on payment update, security and convenience and quick access. The Company operates through 50 branches. The Company is a subsidiary of Singer (Sri Lanka) PLC, which is a manufacturer and retailer of consumer durables and part of the Hayleys Group.