Home THE DAILY EDGE Business Osim posts 86% rise in 3Q earnings to $13m
Osim posts 86% rise in 3Q earnings to $13m

Tags: Osim International

Written by The Edge   
Thursday, 21 October 2010 19:34
smaller text tool iconmedium text tool iconlarger text tool icon

Massage chair maker Osim says it has earned $13 million for the third quarter ended September, 86% more than the year before.

Sales were down marginally at $117 million, and the company attributes this to the conversion of health supplement chain GNC Australia’s conversion into franchised outlets.

However, Osim says, this has resulted in higher profitability for the Australian subsidiary. The company also says overall group margins were up due to a better product mix.

The company has added 35 outlets globally over the last 12 months, and expects to open 50 to 80 Osim outlets in China every year.
 

Quote this article on your site

To create link towards this article on your website,
copy and paste the text below in your page.




Preview :


Last Updated on Thursday, 21 October 2010 19:35