SINGER (SRI LANKA)
REVENUE GROWS TO RS. 37 BILLION DESPITE CHALLENGING ENVIRONMENT
The Singer group announced results for the nine months ending 30 September with revenue increasing to Rs. 37 billion, an increase of 12 percent compared to the same period last year, demonstrating resilience by growing competitively and consistently in tough market conditions. During the quarter, a major milestone occurred with the majority shares of Singer (Sri Lanka) being purchased by Hayleys from Retail Holdings (Sri Lanka), thus making Hayleys the new parent company of the Singer group. Both companies together have ensured a smooth and seamless transition where Singer will continue to pursue its programmes and strategies to retain its market leadership in consumer durables.