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OSIM’s net profit crashed 24% to $22.5m in Q2

Singapore Business Review

Blame it on weak sales.

OSIM International reported that its net profit crashed 24% year-on-year to $22.5m in the second quarter, revenue fell 13% year-on-year to $159.5m.

The sharp decline was due to poor sales in its key markets of Singapore, Hong Kong, China and Taiwan.

“This has been another challenging quarter where retail sales across the core countries have been soft. We remain optimistic on the prospects for the remainder of the year following launch of uMagic in key markets and upcoming planned product launches,” OSIM said in a statement.



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