SINGER Books All-Time High Net Profit of THB935 Million in 2022 as Interest Income Soars 54%

Singer Thailand Public Company Limited (SET: SINGER) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
935.28 700.59
Earning Per Share
1.1400 1.4000
% Change 33.50

SINGER reported a net profit of Baht 935 million in 2022, increased 33.50% from a net profit of Baht 700 million in 2021.

For 2022, total revenue increased by Baht 808 million or 18.4% mainly due to increase in interest income from hire-purchase and loans contract of Baht 817 million or 54.5% and other income of Baht 46 million.

For 2022, revenue from sales of goods slightly decreased by Baht 55 million or 2% from sales reduction in some electrical appliances products. For 2022, the cost of sales of goods increased by Baht 35 million. Gross product margin slightly decreased by 2.3% from previous year, while gross product margin was reduced from 46.7% in 2021 to 44.4% in 2022.

Expected credit loss of the Group Company increased by Baht 196 million or 122.5%, due to increase in non-performing loans of hire purchase and loans.