Osim posts profit after tax of $23m in 2Q, 20% higher than previous month

Osim International, the manufacturer of high-tech massage chairs, said it posted a 20% increase in profit after tax to $23 million for the 2Q ending June 30 (2Q2012) from $19 million in the previous month (1Q2012).

Sales rose 12% to $155 million in 2Q compared to $138 million in 1Q.

The directors have recommended an interim dividend of 1 cent per share and a special dividend of 1 cent per share.

“Our product innovation and competitive positioning have enabled us to achieve record profits. We expect to continue to create higher consumer demand with OSIM products like uDivine App, uPhoria, uSoffa Runway, uPixie, uCozy, uRelax, uPebble and nutritional supplements like Taut Whitening, Zhi and Liver Protector. In China, we are in 45 cities with 267 OSIM outlets. During the quarter we were focused on raising productivity per outlet and per man and increasing profitability. We target to have an increase of 30 OSIM outlets this year as we continue to enjoy strong sales and with more new products being introduced, we expect the core business to remain strong. Our 199 GNC outlets are doing well. Newly acquired GNC Taiwan is progressing well. We have rationalised the number of RichLife outlets to 52 by reducing from 19 cities to 8 cities for better focus, control and efficiency. We intend to open more outlets in these key cities. There is a total of 251 GNC/RichLife outlets in ONI Global.”