Giant Group Sales and Profits Decline Double Digits in Q3
Net income tumbled 30% in the third quarter to TWD 350.0 million ($11.6 mm) from TWD 498.9 million, on a 25% drop in revenues to TWD 15,354.7 million ($509.4 mm) from TWD 20,457.7 million. Gross margin improved 300 basis points to 21.5%, helped by promotions for Giant’s own-brand products during peak season and reversals of inventory provisions from sales. The Taiwanese bike maker’s OEM ... Log in to view full article.
