November 21, 2017 8:49 AM ET

Consumer Finance

Company Overview of Singer Finance (Lanka) PLC

Company Overview

Singer Finance (Lanka) PLC operates as a finance leasing company in Sri Lanka. It offers leasing facilities for brand new vehicles and equipment; and hire purchase facilities for used vehicles and agricultural equipment. The company is also involved in the group sales activities; financing consumer durables under loan scheme; granting loans, such as micro loans; and mobilizing fixed and saving deposits, as well as the provision of business loans, factoring, credit cards, and foreign currency exchange services. It operates through a network of 23 branches, 2 service centers, and 18 mega service centers. The company was founded in 2004 and is headquartered in Colombo, Sri Lanka. Singer Finance...

No. 80, Nawam Mawatha

Colombo,  02

Sri Lanka

Founded in 2004

317 Employees

Phone:

94 11 231 6416

Fax:

94 11 230 3715

Key Executives for Singer Finance (Lanka) PLC

Singer Finance (Lanka) PLC does not have any Key Executives recorded.

Singer Finance (Lanka) PLC Key Developments

Singer Finance (Lanka) plc Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended September 30, 2017

Singer Finance (Lanka) PLC reported unaudited earnings results for the second quarter and six months ended September 30, 2017. For the quarter, the company reported net interest income of LKR 408,604,000 against LKR 348,827,000 a year ago. Total operating income was LKR 462,611,000 against LKR 386,583,000 a year ago. Net operating income was LKR 431,973,000 against LKR 378,129,000 a year ago. Operating profit before value added tax was LKR 190,564,000 against LKR 156,406,000 a year ago. Profit before tax was LKR 155,666,000 against LKR 138,050,000 a year ago. Net profit for the period was LKR 95,587,000 against LKR 89,042,000 a year ago. Basic earnings per share were LKR 0.58 against LKR 0.54 a year ago. For the six months, the company reported net interest income of LKR 804,879,000 against LKR 707,375,000 a year ago. Total operating income was LKR 904,167,000 against LKR 773,725,000 a year ago. Net operating income was LKR 829,549,000 against LKR 746,053,000 a year ago. Operating profit before value added tax was LKR 359,700,000 against LKR 322,624,000 a year ago. Profit before tax was LKR 295,379,000 against LKR 281,608,000 a year ago. Net profit for the period was LKR 185,702,000 against LKR 181,637,000 a year ago. Basic earnings per share were LKR 1.12 against LKR 1.10 a year ago. Net cash generated from operating activities was LKR 985,542,000 against net cash used in operating activities was LKR 726,037,000 a year ago. Acquisition of Property Plant & equipment was LKR 10,749,000 against LKR 8,513,000 a year ago. Incurred on software development was LKR 7,867,000 against LKR 23,037,000 a year ago. Net assets per share as at September 30, 2017 were LKR 16.52.

Singer Finance (Lanka) Announces Board Changes

Singer Finance (Lanka) PLC announced resignation of P.J O'Donell and J. Hyun from the Directorate. The company appointed Abeyakumar Mohan Pandithage as an Executive Chairman, Kulappuarachchige Don Dhammika Perera as Non Non executive, Non-independent Co-Chairman, SC Ganegoda as non-executive, non-independent director, Mohamed Hisham Jamaldeen as independent non executive director, Dumith Hemantha Fernando as Independent non executive director and KKLP Lalith Yatiwella as Alternate Director to SC Ganegoda. Mr. Pandithage serves as Chairman & Chief Executive of Hayleys PLC since July 2009. Dhammika Perera serves as Co-Chairman (Non-Executive) of Hayleys PLC. Mr. Ganegoda serves as a Director of Hayleys PLC since 2009 and has responsibility for the Strategic Business Development Unit of Hayleys PLC and the Fentons Group. Jamaldeen serves as a Director of Hayleys PLC, Talawakelle Tea Estates PLC, Haycarb PLC and Peoples Bank. Mr. Fernando has 22 years' experience in the field of global investment banking.

Singer Finance (Lanka) PLC Reports Unaudited Earnings Results for the First Quarter Ended June 30, 2017

Singer Finance (Lanka) PLC reported unaudited earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported net interest income of LKR 396,275,000 against LKR 353,548,000 a year ago. Total operating income was LKR 441,556,000 against LKR 387,142,000 a year ago. Net operating income was LKR 397,576,000 against LKR 367,924,000 a year ago. Operating profit before value added tax was LKR 169,136,000 against LKR 166,218,000 a year ago. Profit before tax was LKR 139,713,000 against LKR 143,558,000 a year ago. Net profit for the period was LKR 90,115,000 against LKR 92,595,000 a year ago. Basic earnings per share were LKR 0.55 against LKR 0.56 a year ago.Net cash used in operating activities was LKR 672,400,000 against LKR 348,563,000 a year ago. Acquisition of Property Plant & equipment was LKR 1,873,000 against LKR 6,221,000 a year ago. Incurred on software development was LKR 7,517,000.

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