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Article Date: November 2019
Word Count: 209

Giant Bicycle Momentum Carries into Q3


Comprehensive net income attributable to shareholders at the Taiwan-based bike maker was down 37% to NT$366.3 million ($12.1 mm) in the third quarter from NT$582.4 million on 4% higher revenues of NT$16,980.5 million ($530.4 mm) up from NT$16,249.5 million driven by electric bike sales in Europe and the recovery of the Chinese domestic bike market. Excluding comprehensive items, net income inched up 4% to NT$1,023.3 million ($33.8 mm) from NT$981.1 million. Gross margin expanded 50 basis points to 23.0% and SG&A was up 5% in NT$ but just 10 b.p. as a percent of sales.

 

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