TAICHUNG, Taiwan – For this year Giant Manufacturing is expecting to achieve a 10% growth in bike shipments. The Taiwanese manufacturer is aiming to reach 10 million units after 2014 as it produces more bikes in China.
Giant President John Ho presented these forecasts in the Taiwan daily press. Ho said the company’s 2009 earnings could be flat or slightly higher compared to last year. He did not give specific financial figures.
Despite the growing output stock market analysts expect a decline of Giant’s net profit by 8% in 2009 to € 48.7 million.
“China’s growth is driven by its domestic demand and we can see that potential market,” said Ho. Giant makes most of its bicycles in China and its new Tianjin plant in China started operating last month.
Source: Reuters
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