Net income at the Taiwanese bike maker jumped 18% to NT$3,374.6 million ($110.0 mm) in 2019 from NT$2,863.9 million on 5% higher revenues of NT$63,449.5 million ($2,068.4 mm) up from NT$60,239.4 million as it continues to ride the e-bike boom. The top line represents a sales record for Giant Group. Gross margin expanded 80 basis points to 21.5%, and operating expenses were up NT$336.6 million on increased marketing spending but leveraged 20 b.p. on the higher top line.

Sales in Asia, Giant’s largest region, inched up 2% to NT$36,173.1 million helped by the recovery of the Chinese domestic bike market. European ... Log in to view full article.