Singer Thailand Public Company Limited (SET: SINGER) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share (Baht)||1.40||1.09|
SINGER reported a net profit of Baht 700 million in 2021, increased 58% from a net profit of Baht 443 million in 2020.
For the 12-month period of 2021, total revenue increased to Baht 806 million, this resulted from the major increase in revenue from sales of goods and interest income from hire-purchase contract and loans.
For the 12-month period of 2021, revenue from sales of goods increased by Baht 311 million or 12.7% and cost of sales of goods increased by Baht 126 million, resulting in Gross margin 47%. Major sales were from top 5 products which were Fuel vending machines, Freezers Air conditioners, Washing machines and TV.
The growth in sales in 2021, resulted from the fact that SINGER consistently adapted to market conditions, including increasing the number of salespersons and arranging sales teams to be more efficient.
In 2021, expected credit loss of SINGER decreased of Baht 42 million or 21.6% when compared with the same period of the previous year. This result from an improvement in debt management. As a result, SINGER recognised loss on repossession of Baht 121 million, expected credit loss of Baht 51 million and a bad debt recovery and sale of NPL of Baht 20 million, while the same period of the previous year, loss on repossession of Baht 137 million expected credit loss of Baht 141 million with a bad debt recovery and sale of NPL of Baht 84 million.
In addition, the Board of Directors approved a dividend payment of THB0.54 per share to be paid on 20 May 2022. The ex-dividend date is 29 April 2022.