Bike Makers Merida and Ideal See Improvement
Mirroring Giant Group’s recent turnaround, Taiwan’s smaller bicycle manufacturers, Merida Industry and Ideal Bicycle, also posted positive trends in the second quarter. Merida’s net income attributable to shareholders was off 19% to TWD 318.2 million ($10.1 mm) from TWD 394.0 million in the second quarter on 1% lower sales of TWD 6,938.7 million ($219.6 mm) from TWD 7,004.6 million. Gross margin expanded 310 basis points to 18.0%, while total operating expenses were ... Log in to view full article.
