Singer profit after tax increases

The profit after tax of Singer Pakistan Limited has increased to Rs 27.921 million in year ended December 31, 2010, as compared to Rs 15.503 million earned in the corresponding period in 2009. The company's earning per share increased to Re 0.82 in the period under review against Re 0.45 in the same period a year back.
The board of directors of the company in its meeting held here on Thursday recommended to issue bonus shares in the proportion of one share for every 10 shares held ie 10 percent. According to the financial results sent to the Karachi Stock Exchange (KSE), the company's net sales increased to Rs 2.158 billion in 2010 against Rs 1.999 billion in 2009. The cost of sales increased to Rs 1.656 billion against Rs 1.559 billion. The company's profit before taxation increased to Rs 39.940 million in 2010 against Rs 20.716 million in 2009.