Cayman Islands-based nutrition company Herbalife (HLF.NYSE) saw a 10% rise in fourth quarter profit as sales doubled in China, Bloomberg reported, citing a company statement. Net income increased to US$123.5 million from US$112.2 million a year earlier. Revenue rose 20% to US$1.27 billion. Herbalife Chief Financial Officer John Desimone said in an interview on Wednesday that the company’s China unit hasn’t been adversely affected by a government probe into allegations of abuses by Nu Skin Enterprises. China plans to tighten rules on how direct-sales companies train staff and introduce products.
Categories