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November 2, 2012updated 22 Nov 2021 9:06am

Nu Skin Q3 revenue up by 23%

US-based cosmetics manufacturer Nu Skin Enterprises has reported a 23% rise in revenue to $526.2m in the third quarter ended 30 September 2012, compared to $428.4m for the same period in the previous year.

The firm’s net income totaled $54.17m in the current quarter, compared to $46.78m for the same period in 2011.

Nu Skin’s gross profit for the quarter rose to $439.4m, up from $357.7m for the same quarter in the corresponding year.

Nu Skin Enterprises president and chief executive officer Truman Hunt said the firm by continuing to execute its business strategy was able to generate another record quarter, making it to reach a milestone of more than $2bn in annual revenue in 2012.

“Our South Asia/Pacific and Greater China regions generated solid local-currency growth of 53 and 64 percent, respectively,”Hunt added

“The Americas and Europe regions also reported healthy gains with approximately 20 percent year-over-year local-currency growth.”

During the period, Nu Skin’s revenue in North Asia amounted to $184.7m, up from $184.3m during the same period last year.

Nu Skin posted revenue of $136.6m in the Greater China region for the third quarter, an increase of 64% as against $83.4m for the same period in the previous year.

In South Asia/Pacific, revenue for the third quarter jumped 47% to $91.1m, and in America and Europe, the revenue growth was 19% and 9% respectively.

Nu Skin Enterprises is an American direct selling and multilevel marketing company, which develops and sells personal care products and dietary supplements under the Pharmanex and Nu Skin brands.

The firm operates in 53 markets globally and has more than 900,000 active distributors and preferred customers.