BikeBiz Bicycle and cycling retail news
Shimano has announced first quarter results, which show a slight slowdown year on year, however are still increasing, percentage wise, in double figures.
Compare to last year’s recorded Net income increase of 29.4 per cent, the 2008 first quarter results show the company has slowed slightly, but has still recorded a 14.7 per cent increase year-on-year.
Operating income saw a 28.8 per cent increase, only a 0.1 up from the same period last year, while Net income per share saw an appreciation of 7.65 yen.
Forecasts for the financial year show that Shimano expect a continued gradual slowdown, but to still record a Net sales increase of 6.2 per cent on the financial year previously. They add that operating income is expected to stay in double-digit growth, predicting an 11.7 per cent increase.
