Global direct sales players Nu Skin has reported a significant jump in its third quarter revenues, underlining the fact that strong sales in South Korea and Japan made the Asia Pacific region a hot spot, although sales in the North Asian wobbled on currency translations.
The US registered company said that sales for the quarter grew by 23 percent to reach $526.2m, compared to the same period last year, while the revenues were negatively impacted by 3 percent due to unfavorable foreign currency translation.
On the back of the strong results, the company said that it was raising its full year revenue guidance for 2012 to $2.11bn, a figure that represents a 21 percent increase on the previous year.
Revenues growth in all regions
“By continuing to execute on our business strategy, we were able to generate another record quarter, putting us on track to reach a milestone of more than $2 billion in annual revenue in 2012,” said Truman Hunt, president and chief executive officer.
“The quarter was highlighted by healthy trends in all of our regions, strong demand for our anti-aging products and growth in our customer base and sales force."
The CEO said that the growth in the South Korea and Japan markets had been fueled by increased distributor activity in anticipation of the limited time offers to promote the ageLOC Body Spa and related product lines.
More modest revenue growth in the US and Europe
In Europe sales growth was a more modest 9 percent for the quarter to reach $43.2m, whereas revenue growth for the Americas region was more dynamic at 19 percent, to reach $70.5m.
In the biggest market, North Asia, the company said its sales were impacted bya 2 percent negative currency translation, with revenues for the quarter coming in at $184.7m, compared to $184.3m in the corresponding period last year.
However, this figure was counterbalanced by a 64 percent jump in revenues in the Greater China market, to reach $136.6m, a figure that was positively impacted by 60 percent revenue growth in the mainstay mainland China market.
In the South Asia/Pacific market, revenues also rose dramatically, up 47 percent to $91.1m, a figure that was positively impacted by the limited time offers in certain market that helped to generate nearly $30m in additional revenues.