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OSIM posts record Q2 net profit

Lifestyle products firm OSIM's profit after tax came in at S$30 million - a 13 per cent jump from S$26 million in the same period a year ago, thanks to increased sales.

SINGAPORE: Lifestyle products firm OSIM has booked record earnings for the second quarter. Profit after tax came in at S$30 million - a 13 per cent jump from S$26 million in the same period a year ago.

The improved earnings came on the back of increased sales, which hit S$183 million. This was a 10 per cent increase from the S$165 million in Q2 of 2013. The increase was driven by higher demand for OSIM products, and contributions from TWG Tea, which became a subsidiary in October 2013.

Looking ahead, OSIM says it plans to open 20 to 30 new outlets, while closing stores that are underperforming. OSIM operates in 30 countries through 578 outlets. 

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