Leading bicycle supplier Giant Manufacturing delivered a strong performance in the second quarter of 2010, with revenue up 9.1% on the first quarter of the year to reach US$346 million (NT$11.1 billion).
This stronger than expected performance from the Taiwanese biking behemoth was undented by the crisis in the Euro zone and continuing economic fragility in key markets.
Taking Q1 and Q2 together, the first half of 2010 saw Giant achieve combined revenue of US$664 million (NT$21.2 billion), up 8.8% on the first half of 2009.
Giant attributes its solid sales performance partly to increasing market demand in Australia and China, which has effectively offset shrinking sales caused by the Greek debt crisis in Europe. In tandem with this, Giant has revved-up production of new bicycles that are slated for launch in 2012.
Around 27% of the company’s sales are generated in Europe, 28% in the US and the remainder in Asia.
With a using up of bicycle inventories across key strategic markets, Giant expects a steady recovery in future orders and output. This will give shareholders and management confidence in Giant’s latest investment in China and for the company’s ongoing roll-out of branded bicycle stores.
