Saman Kelegama has been appointed the new Chairman of Singer Finance (Lanka) PLC, following the resignation of Hemaka Amarasuirya with effect from April 30. In line with the Central Bank regulations, the company's Chief Executive Asoka Pieris also has resigned from the director board.

Singer Finance (Lanka) PLC reported earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, the company reported net interest income of LKR 195,487,000 against LKR 193,976,000 for the same period a year ago. Operating profit before provision for loan losses and tax was LKR 99,912,000 against LKR 80,979,000 for the same period a year ago. Profit from ordinary activities before VAT on financial services and tax was LKR 81,970,000 against LKR 70,630,000 for the same period a year ago. Profit before tax was LKR 81,315,000 against LKR 65,885,000 for the same period a year ago. Net profit for the period was LKR 57,032,000 or LKR 0.49 per basic share against LKR 68,487,000 or LKR 0.64 per basic share for the same period a year ago. For the year, the company reported net interest income of LKR 811,200,000 against LKR 744,761,000 for the same period a year ago. Operating profit before provision for loan losses and tax was LKR 397,608,000 against LKR 323,431,000 for the same period a year ago. Profit from ordinary activities before VAT on financial services and tax was LKR 342,266,000 against LKR 316,683,000 for the same period a year ago. Profit before tax was LKR 326,113,000 against LKR 290,088,000 for the same period a year ago. Net profit for the period was LKR 235,421,000 or LKR 2.02 per basic share against LKR 219,567,000 or LKR 2.06 per basic share for the same period a year ago. Net cash used in operating activities was LKR 460,826,000 against LKR 1,591,934,000 for the same period a year ago. Acquisition of property plant and equipment was LKR 37,959,000 against LKR 9,832,000 for the same period a year ago.

Singer Finance (Lanka) PLC expected to report Fiscal Year 2013 results on May 18, 2013. This event was calculated by Capital IQ (Created on May 12, 2013).