Nu Skin results defy financial downturn

Directs sales anti-aging skin care specialist Nu Skin says that its most recent quarterly results show sales growth despite the slow retail environment.

The preliminary results show that sales for the most recent quarter grew 8 percent to $334.2m. The final results, alongside the company’s net profit figure, will be revealed on October 30.

The company said demand for its products has remained robust, and that the strength of the US dollar had continued to benefit its international business operations, adding 1 percent, likewise reflecting the growth of its sales overseas.

“Our local currency revenue growth accelerated to 7 percent, boosted by continued sales trend improvements in Japan and double-digit growth in South East Asia, South Korea, mainland China, Europe and Latin America,” said Truman Hunt, Nu Skin CEO.

Moving into new international markets

The company has been moving into new markets worldwide recently, opening in Turkey earlier this month and focusing on fast-growing China, giving it a total of 750,000 direct sales staff in 48 countries.

He also pointed out that the company’s sales performance had been impressive across its products portfolio, with gains from both its top and bottom lines.

Even the North America market, which has been badly hit by the economic downturn, recorded a 7 percent rise in sales, in line with growth in the international markets.

Bottom line boosted by restructuring

Hunt stated that profits are likely to look up once the final results are announced, stating that the bottom line has been enhanced by a streamlining of its international operations over the past three years.

The company is also planning a major international launch with its ageLoc anti-aging skin care range, which is described as its ‘most significant new product launch ever’.

The company said that it estimated revenue for the full financial year 2009 should come in at between $1.29bn and $1.30bn, compared to revenues of $1.25bn in 2008, a figure that was 3 percent up on the previous year.