Singer Sri Lanka said sales of bicycles and motor cycles grew 26 percent to 757 million in 2009 while company wide revenues fell 15.5 percent to 11.2 billion rupees as the economy was hit by a balance of payments crisis and a global slump.
Singer is a top seller of sewing machines, televisions, refrigerators, agricultural equipment and washing machines in Sri Lanka.
The firm said the best performer was an Indian made model named 'Kinetic Safari 4S'.
"It was the best selling small motor cycle in the country last year," the firm told shareholders in the annual report.
"Demand for the 'Kinetic Safari 4S' is likely to grow in 2010."
Singer said demand was strong from the former war zone in the north of the island, after Tamil Tiger separatists were defeated in May 2009.
"The company's early entry into the market in the North also helped boost sales," Singer said.
"The company's motor cycles became one of the highest selling products in the north after the end of the North-East conflict in May 2009."
Singer says it is planning to introduce a new rang of 'scooters' to the island this year.
Total vehicle registrations fell 23 percent to 203,000 vehicles in 2010. In 2009 new registrations of motor cycles fell 13.0 percent though there was an upturn in the last quarter of the year.
source - www.lbo.lk
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