OSIM's Q3 net profit rises 16% to $22.7m

OSIM International's third-quarter profit rose 16 per cent as sales of its massage chairs, massagers and nutritional supplements improved.

Net profit was $22.7 million for the three months ended Sept 30, up from $19.6 million a year ago, Asia's biggest maker of massage chairs said in a statement yesterday. That was lower than the $23.5 million forecast by analysts in a Bloomberg poll.

Revenue rose 7 per cent to $153 million from a year earlier. Contributions from its North Asian operations grew 9 per cent to $81 million, while that of its South Asian business grew 5 per cent to $59 million.