OSIM Q3 earnings dive 62%

Singapore

LIFESTYLE products group OSIM International on Tuesday reported its worst set of results since the second quarter of 2009, battered by currency turmoil in Malaysia and soft consumer sentiment in its key North Asian markets as well as in Singapore.

Net profit was S$6.2 million for the three months ended Sept 30, 2015, down 62 per cent from S$16.4 million a year ago. The last time net profit was lower was the S$5 million reported for the three months ended June 30, 2009, according to Bloomberg. Earnings per share were 0.8 Singapore cent, down from 2.1.