OSAKA, Japan - Shimano’s net income increased by 57.2% to JPY 10.11 billion (Euro € 64.4 million) for the first six months of 2007. In the same period sales were up by 24% to JPY 99.79 billion (€ 636.2 million). Sale of bicycle components recorded the biggest growth with a share of 72.3% of total sales.
Overall sales, including fishing tackle, rose by nearly 27% in the second quarter. These results prompted the Japanese group to upgrade its financial outlook for the full year. It is now expecting growth of 14.5% in sales and 42% in net income.
Strong demand for bike parts in all geographic regions in the latest quarter helped to lift the bikes division’s revenues up by 27.5% in the first six months to JPY 72.1 billion (€ 460 million), generating a 45.4% increase in operating income to JPY 12.4 billion (€ 79.0 million).
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