OSIM Q1 profit down 53% on weaker sales

Singapore

HIT BY a slowdown in its core massage products business across geographical markets, OSIM International registered a double-digit revenue slide for the first quarter of the year.

Revenue for the three months ended March 31, 2015, fell 13 per cent to S$149.8 million, from S$172.6 million a year ago. Net profit fell 53 per cent to S$13.5 million from S$28.8 million a year ago.