Further details regarding the boost in net sales and earnings for Giant Bicycle Inc have been noted in a recent report by Taiwan Economic News.
According to the report, Giant`s six bicycle plants worldwide together produced 4.08 million assembled bicycles (including electric bikes) in the nine months ending September 2010. This was up 11% year on year.
Major shipment gains were seen in Giant’s facilities in Taiwan, Kunshan, and Tianjin. (The company’s production of electric bikes is mainly exported to Europe rather than sold in China.)
In addition, two material affiliates also reported good operational results for the first three quarters of 2010, due to the ‘recovering global bicycle market and strong demand for high-end carbon-fibre materials.’
Giant reported net earnings of NT$2.34 billion for the first nine months of 2010. This was up 29.6% on the previous year period. During the same nine month period, Giant had sales of NT$33.38 billion, up 12.3% year on year.
