Singer sells most ‘fridges’ in company’s history last month
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The Singer Sri Lanka Group, which posted group revenue of Rs. 10.6 billion in the first quarter of 2016 representing a growth of 23 per cent per cent has sold the highest amount of refrigerators in its history in April through Singer PLC, officials said. ”Our refrigeration campaign for ‘Gas R600 A’ type which is an environmentally friendly machine and which saves 50 per cent of the electricity was excessively successful,” Asoka Peiris, Chairman Singer told the Business Times. This type of refrigerators is available both in Singer and Sisil brands.
Mr. Peiris said that for the first time in history, they had so much demand for these refrigerators that they ran out of stock. “We had to promise a ceiling fan for those who couldn’t buy it in April and they went away with a ceiling fan to return this month to buy the refrigerator,” he said. Singer had sold more than 20,000 units. Product lines in most sectors recorded noteworthy growth; refrigerators grew by 22 per cent. Group Net Profit for 1Q was high at Rs. 809 million, up 19.1 per cent when compared with the previous year.
The company’s Net Profit generated for 1Q was Rs. 215 million, an increase of 74 per cent. Other significant initiatives in the quarter under review were the launch of the new Singer Smart TV range under sub-brand Singer Vista, the opening of Digital Media Corners in retail shops, expansion of capacity at the refrigerator factory, introduction of new furniture brand for Dealers and the thrust into dealer markets for computers and furniture. Additionally, the group continued its successful campaigns for refrigerators and air-conditioners.