OSIM’s net profit jumps 38% to S$69m in 2011

The surge in revenue was driven by the launch of its new products.

The group’s revenue increased by S$45 million to S$554 million, says a financial statement. The increase in sales was driven by the launch of new innovative products.

Profit before tax reached a high of S$98 million. The better performance is due mainly to increase in sales and better margins.

Profit after tax for the year was S$69 million. Q4 sales grew to S$143 million. OSIM launched uPhoria during the quarter and uDivine chairs continued to perform well.

Q4 profit before tax at S$24 million and profit after tax at S$17 million were better than the corresponding quarter in last year.

For the 12 months ended 31 December 2011, OSIM had sales growth with better product mix of massage chairs, massage sofas, foot massagers, head massagers, neck and shoulder massagers and nutritional supplements.