Bike Makers Merida and Ideal Face Tough Q2
Taiwan’s second-largest bicycle manufacturer, Merida Industry, saw net income attributable to shareholders plummet 40% to TWD 394.0 million ($12.9 mm) from TWD 655.5 million in the second quarter on 25% lower sales of TWD 7,004.6 million ($228.9 mm) from TWD 9,322.7 million. Gross margin declined 600 basis points to 14.9%, while total operating expenses were reduced by 9%, but still deleveraged 150 b.p. on the lower ... Log in to view full article.
