Osim posts highest quarterly earnings in five years

Higher sales and better productivity have lef lifestyle product firm Osim International to report its highest quarterly earnings in five years.

The firm said on Monday that fourth quarter net profit jumped 22.1 per cent to $27.6 million, on the back of a 15.5 per cent rise in revenue to $178.6 million for the three months to Dec 31 last year.

Earnings for the full year came in at $101.6 million, up 16.9 per cent on the year before, while turnover climbed 7.6 per cent to $647.6 million.

Osim International said its stellar performance was due to product innovation and its competitive pricing in different markets.

The company sells massage chairs, massage sofas, foot massagers, neck and shoulder massages among others and gets celebrities such as Hong Kong star Andy Lau to endorse its products.

Earnings per share for the full year came to 14.03 cents, up from 11.85 cents in 2011.

Net asset value per share as of Dec 31 stood at 36 cents, up from 26 cents per share recorded a year earlier.

A final cash dividend of two cents per share will be paid on April 15.

Osim shares closed four cents or 1.65 per cent down to $2.39 on Monday.