Mar 18, 2012 (LBO) - Singer (Sri Lanka) Plc, a listed consumer durables distributor which 22 billion rupees in revenues in 2011 said it has seen strong sales of bicycles in former war-torn areas, where the product has been traditionally popular.
Singer sells 'Lumala' branded vehicles through its distribution network, which grew in 2011, the company told shareholders in the annual report.
"This was growth was experienced due to high concentration in the Northern and Eastern provinces," the firm said.
"We expect this growth to continue in the future years too. The major contribution is from models Lumala Ladies bicycles and Lumala Standard bicycles."
Ladies in areas like Jaffna has traditionally used bicycles. Since the end of a war in 2009 however they have started to use motorized scooter, a key form of transport for ladies in many emerging East Asian countries.
Singer said its motor cycle sales was below expectations because their Indian supplier, Kinetic closed down.
"However the company is expecting to revive the motor cycle product categoty in 2012 by introducing Singer branded mopeds and scooter of 80 cc (cubic centimeter engine capacity), 100 cc and 125 cc and 90cc super cubs," the firm said.
"Arrangements in this regard have already been initiated."
source - www.lbo.lk
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