SINGAPORE: Osim International has swung into the red in the first quarter with a net loss of S$17.3 million.
Its bottomline is being hit by lower revenue from North Asia and losses at Osim Brookstone.
Revenue for the period fell by 22 per cent, with sales in North Asia taking a tumble of some 36 per cent.
Osim says the North Asian market is recovering from the industry consolidation arising from unsubstantiated advertising by followers which resulted in negative publicity for the industry as a whole.
It remains positive about its long-term prospects and says that it plans to add new retail outlets in more countries.
Its bottomline is being hit by lower revenue from North Asia and losses at Osim Brookstone.
Revenue for the period fell by 22 per cent, with sales in North Asia taking a tumble of some 36 per cent.
Osim says the North Asian market is recovering from the industry consolidation arising from unsubstantiated advertising by followers which resulted in negative publicity for the industry as a whole.
It remains positive about its long-term prospects and says that it plans to add new retail outlets in more countries.
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