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Shimano Expects Sales Increase in Bike Sector

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OSAKA, Japan (May 23) – Despite the present difficult market situations in Europe and the US, the world’s biggest bicycle component maker expects growing sales in the bike sector for the whole year of 2002. However, sales is expected to increase only slightly with 1.4%. Shimano projects JPY 86.9 billion (€ 754mn) in sales of […]

OSAKA, Japan (May 23) – Despite the present difficult market situations in Europe and the US, the world’s biggest bicycle component maker expects growing sales in the bike sector for the whole year of 2002. However, sales is expected to increase only slightly with 1.4%. Shimano projects JPY 86.9 billion (€ 754mn) in sales of bicycle components (up from JPY 85.7 billion in 2001).
In a recent statement about its financial situation, Shimano says that it is budgeting a 8% sales increase in fishing tackle while in other sectors sales are expected to up 16%. Total sales are expected to reach JPY 130 billion (€ 1,129mn).
Shimano’s pre-tax profit should rise by 5.5% to 13.4 billion yen (€116mn) while total net profit is expected to grow 68% to JPY 9.5 billion (€82.5mn). Overall, Europe represented 33% of total sales, as against 25% for Japan, 21% for the US and the rest for parts of Asia. (JO)

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