Wednesday, November 2, 2011

New products lift Osim's 9-month results

Straits Times: Wed, Nov 02
OSIM International's third-quarter results saw only marginal improvement but its nine-month results had better gains.

Net profit for the three months ended Sept 30 edged up to $13.1 million from $13 million, while revenue climbed 5 per cent to $123.6 million.

The group did not give a review of its third-quarter financial performance.

A better line-up of products and increased productivity boosted net profit to $52 million for the nine months ended Sept 30.

It is a 57 per cent improvement from the $33 million reported last year.

The launch of new products helped to pull revenue up, from $376 million to $411 million.

In the nine-month period, Osim said it saw strong sales momentum of products such as uDivine, uSoffa, uPapa Music Sync and uVenus in their key markets of North and South Asia.

The lifestyle products firm said it expects higher demand from its consumers with the launch of new products like uPhoria, uSoffa Runaway, uJoy and uPixie.

Looking ahead, the company said its focus will be on growing sales, creating sustainable profits and building positive operating cash flow.

This, in turn, will allow it to strengthen its balance sheet and build long-term value for its stakeholders.

Net asset value per share rose from 15 cents to 21 cents as at Sept 30, while earnings per share for the nine-month period went up by almost 50 per cent, from 4.99 cents to 7.48 cents.

Source: The Straits Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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