Giant Group the world's largest bicycle designer and manufacturer reported sales are up 14 per cent in the first three quarters of 2022 compared with last year.
Despite citing challenges such as an increase in the cost of raw materials, logistics and labour, Giant was aided by the strength of the US dollar, Bicycle Retailer reports, leading to net income pre-tax growth of 9.9 per cent in its latest financial results.
Net income after tax is reported to have grown 16.5 per cent to NT$5.63 billion (New Taiwan dollar), with earnings per share at NT$15.01.
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Giant suggested there is still a shortage in performance-level products, but said in general inventories are improving across Europe and North America.
Addressing concerns the demand for bicycles might have slowed since the pandemic, Giant admitted "[market demand] has cooled down compared to the past two years" but the company "sees the great potentials for the cycling industry" as world governments prioritise environmental and health-focused policies.
At the end of October, Shimano — the world's biggest manufacturer of bicycle components — reported its summary of financial results for the same period Giant did above and similarly saw healthy increased sales despite demand "showing signs of cooling down".
Shimano said: "During the first nine months of fiscal year 2022, the pace of global economic recovery slowed primarily because prices soared due to resource and energy supply constraints and rising resource prices caused by the situation in Ukraine, and central banks in various countries took steps to raise interest rates sharply to curb accelerating inflation."
Lifting of Covid restrictions in Japan and "a solid employment environment and rising wages" in the US had led to increased personal spending and steady personal consumption in the two countries respectively.
Net sales in the bicycle division are up 20.6 per cent on the first nine months of 2021, totalling 384,654 million yen.
we could get Mr Loophole to take the case....
Australia is a land of motonormativity. It's bizarre to state that the same laws apply as they clearly don't e.g. drivers don't get pulled over and...
This would be fairly simple for train staff to 'police',up to a point....
Remarkable. Let's hope his next effort isn't, I dunno, a Star Trek phaser.
As soon as I saw the video, I thought; unlicensed rider, stolen bike with stolen plates; that sort of criminal wouldn't give a second thought about...
I recieved an email this week from a WMP officer drafted in to help as they were overwhelmed with submissions and falling behind. It said two of...
You might have missed this: ...
Calipers: not apealing.Red Levers: The Most Beatiful Levers In The World ! Gonna work some overtime.
Suvi is getting paid way too much. Needs a wages review. And quick....