Giant and Merida post positive results

Taiwan bicycle makers Giant Manufacturing Co. Ltd. and Merida Industry Co. Ltd. have released financial info based on trading results from the first eight months of the year.
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According to the China Economic News Service, Giant shipped 590 000+ bicycles from its Taiwan plant in the first eight months, up 23.9 percent from the same period of last year.

The goal had been 600 000 and the company wants to reach 800 000 shipped bikes by year end.

Giant shipped over 66,700 bicycles in August, up 5.62 percent from the same month of last year, and had August revenue of $20.44m, up 18.21 percent year on year. The company said that the figures pointed to a rise in average selling price.

Giant recorded aggregate revenue of $148.83m for the first eight months, up 25.48 percent from the same periodl year.

Merida's capacity has been fully booked through February next year, said the China Economic News Service.

The company - which part owns Specialized - had revenue of $14.08 million on total shipment of 39 400 units, up 53 percent from the same month of last year. Its combined revenue for the first eight months reached $88.56 million, up 18.55 percent from one year earlier.

According to Merida, its August average-selling price hit a record high of $334. It was $280 last year.

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