Cycle sector proves strong for Shimano

Bicycle component sales and operating income up for manufacturer in Q1 2010
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The bicycle branch of Shimano's business performed well for the manufacturer, according to its quarter one results for 2010.

Bicycle component sales increased 13 per cent from the same period of the previous year to 39,923 million Yen. Operating income also increased by an impressive 35 per cent to 6,983 million Yen.

Across Shimano's business, consolidated net sales increased 11.4 per cent from the same period last year to 50,226 million Yen. However, net income decreased 7.8 per cent to 5,072 million Yen.

Shimano revealed that severe weather affect its performance. In a statement the firm said: "Although retail sales were sluggish because of unusually harsh winter weather in the northern hemisphere, sales recovered from March onward."

Overall though, cycling performed well for Shimano.

"Interest in cycling remains as high as ever worldwide. As a result of brisk shipments of bicycles in readiness for sales at retailers, which generally take off from March onward, sales in the first quaarter exceeded the figure for the same period of the previous year, as planned."

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