Bike Makers Merida and Ideal Going in Opposite Directions
Taiwan’s second-largest bicycle manufacturer, Merida Industry, saw net income attributable to shareholders slip 9% to TWD 690.2 million ($21.4 mm) from TWD 758.3 million in the third quarter. Revenues, however, grew 30% to TWD 8,664.3 million ($269.1 mm) from TWD 9,427.8 million. Gross margin inched down 20 basis points to 18.2%, while total operating expenses increased 15%, but still leveraged 80 b.p. on the higher top line. Within OpEx, selling expenses were up 9%, ... Log in to view full article.
