Massage chair maker OSIM International posts 16% jump in Q3 net profit to $23 million

Lifestyle products firm OSIM International said its third-quarter net profit grew 16 per cent to $23 million due to new products and sales growth.

Revenue grew 7 per cent to $153 million for the three months to Sept 30.

OSIM said in a statement: "We are pleased with the strong performance for the third quarter this year despite a tough macro environment."

Earnings per share for the quarter were 3.1 cents, while net asset value was 31 cents as at Sept 30.

OSIM proposed a third interim dividend of one cent per share, which will be paid out on Jan 8 next year.

The firm also said that it expects "to continue to create higher consumer demand for OSIM products like uInfinity, uDivine App, uAngel".