Giant Manufacturing Sales Gain 5% in H1
Net income surged 60% to NT$1.72 billion ($55.1 mm) in the first half on sales that were 5% higher at NT$30.71 billion ($984.0 million) driven by a 40% increase in sales of electric bikes in Europe. The bottom line comparison benefitted from a one-off income tax expense in the first quarter of 2018, and net income was up 25% on a comparable basis. Giant shipped 290,000 electric bikes in the first half of the year, which accounted for 28% of overall revenue. The U.S. market also improved for Giant, with sales here up 10% as both electric bikes and traditional ... Log in to view full article.