November 23, 2013

Sales in China drive Giant’s revenue, profits #handoverfist

I just never realized how big Giant Bicycles is in relation to the rest of the market.  Pretty nifty, that’s a lot of bikes and accessories.

TAICHUNG, Taiwan (BRAIN) — Giant Manufacturing continues to rack up profits as it closed its third quarter thanks to sales in China, where revenue grew 28 percent and the average selling price per unit continued to improve.

*Giant has approximately 2,500 exclusive franchise stores in China, dwarfing most of its competitors. *

*Overall, Giant generated $1.43 billion (NT 42.1 billion) in sales in the first nine months of the year—a 2.4 percent increase compared with the same period last year. Net income before taxes was $121.7 million (NT 3.6 billion). Earnings per share were 24 cents (NT 7.05). *

*Analysts at Deutsche Bank AG/Hong Kong project Giant will close the year with sales of approximately $1.92 billion (NT 56.8 billion), approximately a 5 percent increase over 2012. *

via Sales in China drive Giant’s revenue, profits | Bicycle Retailer and Industry News.