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.
> Giant launches "fastest ever" Propel aero road bike range
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.
To be fair the Germans didn't give everyone much notice they were done with the war in November. Could have saved everyone tooling up for the Big...
I disagree, the lucky few who get to wear one of these will certainly produce more mass.
That wasn't what my original post was about - it was about the NHS as it is now. If you're going to be run over by an ambulance tomorrow, there are...
I prefer the not haveing to faff with brakes in first place, which is the typical reality for hydraulic systems.
I'm sure the met are merely waiting for it to build up to a critical mass and then they'll swoop in and confiscate and crush them all then there...
Reality - I expect most first year lectures have more than 80 students at them; So 80 bicycle spaces is a rounding error on potential demand....
Especially that it is a traffic light controlled junction so he must have been completely blinded not to see the red on his left hand side and a...
Send the details to UK network rail and Transport for Wales as well!
So that Pulsium from Lapierre has a 415mm wheelbase? I assume it's on 20 inch wheels then!
It's been one hell of a ride Cav, thanks for letting us share some of it. https://www.theguardian.com/sport/2024/nov/09/mark-cavendish-final-race-...