Singer Thailand Public Company Limited (SET: SINGER) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
215.41 | 140.12 |
| Earning Per Share (Baht) |
0.2700 | 0.3100 |
| % Change | 53.74 | |
SINGER reported a net profit of Baht 215 million in 1Q22, increased 53.74% from a net profit of Baht 140 million in 1Q21.
In 1Q22, total revenue increased by Baht 209 million or 20.9%, which was a result from the major increase in revenue from sales of goods and interest income from hire-purchase contract and loans and other income.
Hire purchase contract receivables and loan receivables increased by Baht 1,356 million or 12.7% when compared with the year ended in 2021. An increase consists of hire-purchase of electronics and others and vehicles of Baht 556 million and loan receivables with vehicle collateral of Baht 800 million.
For the first quarter of 2022, expected credit loss of the Group increased by Baht 10 million when compared with the same quarter of the previous year. As a result, The Group recognised loss on repossession of Baht 18 million, expected credit loss of Baht 38 million and a bad debt recovery of Baht 2 million, while the same period of the previous year, loss on repossession of Baht 44 million, expected credit loss of Baht 5 million with a bad debt recovery of Baht 5 million.
