The Straits Times / The Business Times News on OSIM

Osim posts healthy Q1 growth

IT was a glowing report of financial health that Osim International unveiled yesterday as the company once again beat its own targets with strong growth in the first quarter.

The healthcare products group saw Q1 earnings rise 56 per cent to $8.1 million, surpassing its long-term growth target of 20-30 per cent. Turnover grew 26 per cent to $86.8 million.

The result follows on last quarter's 61 per cent earnings growth to $10.8 million.

Osim saw growth across all key markets. South Asia spearheaded the results, with a 54 per cent revenue increase to $26 million.

With Osim's acquisition of Global Active (GAL) and its intended purchase of US speciality retailer Brookstone Holdings, prospects are looking bright. Osim chief executive Ron Sim said these moves 'are expected to transform and broaden the operations of the Osim group'.

He said yesterday that he expects group revenue and earnings in FY2005 to exceed last year's.