Giant’s Growth Depends on Chinese Market
TAIPEI, Taiwan – In the first three quarters of 2013 Giant Bicycles sold over 4.79 million units. For the same period the company reports a 12.4% year-on-year improvement of its pre-tax net income reaching TWD 3.598 bn (90.4 mn euro).
Giant sales of branded bicycles increased most significantly on the mainland China market, which surged by 28% over the first three quarters of the year. Concurrently, the average selling price of its bikes saw a steady rise, said the company in a recent report in the China Post.
Giant sales on the Japanese and U.S. markets however, saw declines due to the influences of weather last spring and summer as well as due to the economy.
In the first three quarters of 2013, the company’s total revenues amounted TWD 42.106 bn (1.057 bn euro) up 2.4% year-on-year, and after-tax net income TWD 2.644 bn (66.4 mn euro), up 13.8% year-on-year.