Giant Group revenue down 13% in half

August 12, 2024

Giant Group announced that its first-half revenues were NT$37.23 billion ($1.147 billion), a 12.6% decline from the same period last year.

The company said that due to profit growth in China, its gross margin rate fore the period was 21.3% and net profit after tax was NT$1.67 billion, a decrease of 17.1% from last year. Earnings per share was NT$4.27.

The company said its second quarter revenue was down 5.8%, to NT$21.17 billion and gross margin in the quarter was 22.2%, which it attributed to a greater mix of sales of its own brands’ products vs. its OE customers. Bicycle Retailer