Osim FR 050407.indd

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Number of OutletsOSIM OutletsNorth AsiaSouth AsiaAmerica/Africa/Europe/MiddleEast/OceaniaGNC OutletsBrookstone2006 2005 Growth329 312 5%323 231 40%34 45 (24%)686 588 17%139 144 (3%)310 304 2%1,135 1,036 10%350300250200150100500Number of Outlets2006200520062005North Asia South Asia America/Africa/Europe/Middle East/Oceania2006 2005 2006 2005GNCOutlets2006 2005BrookstoneOutletsOutlets The Group is expanding the global platform and currently has direct control over1,135 outlets globally Net increase of 98 outlets in 2006 Our goal is to attain 3,000 outlets globally by 2013Turnover by Geographical Segments (S$m)North AsiaSouth AsiaAmerica/Africa/Europe/MiddleEast/Oceania2006 2005 Growth341.9 291 17%203.5 150.2 35%77.5 61.3 26%622.9 502.5 24%Turnover by Geographical Segments Broad-based growth across all key markets and revenue contribution from GlobalActive Limited (“GAL”), OSIM Brookstone LP and international franchisees The Group will continue the ongoing consolidation of individual focus outlet intolarger and more efficient OSIM Focus outlets to achieve higher same store sales350300250200150100500Turnover by Geographical Segments (S$m)20062005North Asia20062005South Asia20062005America/Africa/Europe/Middle East/OceaniaFinancial Highlights 39 Annual Report 2006
Quarterly AnalysisTurnover 2006 2005 % Change overprevious periodFirst Quarter 155,221 86,816 79%Second Quarter 183,345 134,456 36%Third Quarter 138,738 133,481 4%Fourth Quarter 145,632 147,751 (1%)622,936 502,504 24%Profit before tax 2006 2005 % Change overprevious periodRestatedFirst Quarter 3,864 9,354 (59%)Second Quarter 19,332 13,824 40%Third Quarter (7,938) 12,656 (163%)Fourth Quarter 28,354 15,582 82%43,612 51,416 (15%)Net profit after tax 2006 2005 % Change overprevious periodFirst Quarter 430 8,123 (95%)Second Quarter 13,287 11,991 11%Third Quarter (9,836) 10,428 (194%)Fourth Quarter 29,921 16,151 85%33,802 46,693 (28%)Turnover Broad based revenue growth of 24 % was driven by strong consumerdemand for full range of OSIM chairs and other healthy lifestyleproducts across the global point-of-sales network. In 3Q and 4Q, inferior quality and unsubstantiated product claimsby imitators caused adverse media publicity and negative marketsentiments. We believe that this market disruption will further differentiate theOSIM brand over the longer term in terms of innovation and quality.Profit before and after tax OSIM, Brookstone and Global Active are profitable. When OSIM equity accounts its share of Brookstone's result underS<strong>FR</strong>S, the rules are different from US GAAP. It has to recognisecumulative dividend payment to preference shareholders as afinance interest expense. After accounting for Associates and JointVenture using this methology, Group net profit after tax declined28% to $33.8 million in FY 2006. Taxes were moderated with International Business Headquarters(IHQ) tax incentives200,000Turnover by Quarter (S$’000)35,000Profit before Tax by Quarter (S$’000)35,000Profit after Tax by Quarter (S$’000)180,000160,000140,000120,000100,00080,00060,00040,00020,0002006200620052006 20052006 20052005Q1 Q2 Q3 Q430,00025,00020,00015,00010,0005,000-(5,000)(10,000)2006200620052005 2005200520062006Q1 Q2 Q3 Q430,00025,00020,00015,00010,0005,000-(5,000)(10,000)(15,000)2006200520062005 2005200520062006Q1 Q2 Q3 Q4Financial Highlights 40 Annual Report 2006
Page 1: Process and Performanceas the growt
Page 5: Customer Service Department“I put
Page 9: Sales Department“I look forward t
Page 13: Research & Development“Every prod
Page 17 and 18: Contents17 CEO’s Message22 The Ro
Page 19 and 20: ... ensuring that as we grow,they g
Page 21 and 22: previous year. Q4 2006 revenue rose
Page 23 and 24: The Role ModelsThe Role Models 22 A
Page 25 and 26: Ms Teo Sway HeongNon-Executive Dire
Page 27 and 28: Mr Peter Lee Hwai KiatMs Celine Cha
Page 29 and 30: Result of our Growth StrategyThe Gr
Page 31 and 32: Performance ReviewIn building a glo
Page 33 and 34: ProfitabilityIn FY2006, buoyant rev
Page 35 and 36: An Environment of GrowthMarch 2006
Page 38 and 39: Financial HighlightsOur goal is to
Page 42 and 43: Capital ExpenditureCapexS$’000 Le
Page 44 and 45: Corporate Structure as at 21 Februa
Page 46 and 47: OSIM Global NetworkSINGAPORECHINATA
Page 48 and 49: Corporate InformationBoard of Direc
Page 50 and 51: Non Executive DirectorMs Teo Sway H
Page 52 and 53: Corporate Governance Report 51 Annu
Page 54 and 55: The Company worked closely with a p
Page 56 and 57: New directors are at present appoin
Page 58 and 59: In 2006, the Audit & Risk Managemen
Page 60 and 61: The aggregate value of interested p
Page 63 and 64: Financial Contents64 Directors’ R
Page 65 and 66: Directors’ ReportFor the Year end
Page 67 and 68: Directors’ Report (cont’d)Share
Page 69 and 70: Directors’ Report (cont’d)Share
Page 71 and 72: Directors’ Report (cont’d)Audit
Page 73 and 74: Independent Auditors’ Reportto th
Page 75 and 76: Balance Sheetsas at 31 December 200
Page 77 and 78: Consolidated Profit and Loss Accoun
Page 79 and 80: Statements of Changes in Equity for
Page 81 and 82: Consolidated Cash Flow Statementfor
Page 83 and 84: Consolidated Cash Flow Statement fo
Page 85 and 86: Notes to the Financial Statements -
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Notes to the Financial Statements -
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Major PropertiesUnexpiredterm ofDes
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Shareholdings Statistics as at 8 Ma
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Notice of Annual General Meeting (c
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Notice of Annual General Meeting (c
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Appendix (cont’d)DEFINITIONSIn th
Page 181 and 182:
Appendix (cont’d)PROPOSED RENEWAL
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Appendix (cont’d)3.1.3 The Direct
Page 185 and 186:
Appendix (cont’d)4. Rationale and
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Appendix (cont’d)11. ACTION TO BE
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OSIM INTERNATIONAL LTDCompany Regis
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SINGAPOREOSIM International Ltd65 U
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