Bike Makers Merida and Ideal Face Tough Quarter
Following Giant Group’s dismal Q1 profit and revenue losses, Taiwan’s second-largest bicycle manufacturer, Merida Industry, saw first-quarter sales tumble 30% to TWD 5,323.1 million ($167.9 mm), down from TWD 7,567.6 million. Net income attributable to shareholders dipped 22% to TWD 325.7 million ($102.7 mm) from TWD 418.5 million. Gross margin was flat at 16.6%, while total operating expenses were slashed by 7%, but deleveraged 250 basis points on ... Log in to view full article.
