Sri Lanka’s Singer Finance Dec profit growth flat, deposits fall

ECONOMYNEXT – Sri Lanka’s Singer Finance reported net profit growth for the December 2018 quarter was flat at 131 million rupees from a year ago and there was a fall in customer deposits.

Net interest income rose 25 percent to 550 million rupees with interest income up 27 percent to 984 million rupees while interest costs rose 29 percent to 434 million rupees, interim accounts filed with the stock exchange showed.

Earnings per share for th quarter were 65 cents. The stock was trading at 13.90 rupees Thursday.

Net fee and commission income rose 28 percent to 61 million rupees while other income fell 68 percent to 16 million rupees.

Value added tax shot up 71 percent to 78 million rupees.

Customer deposits as at 31 December 2018 fell to 4.8 billion rupees from 5.4 billion  rupees at the end of the 2018 financial year.

(Colombo/January 24/2019)


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