Giant Group, believed to be one of the world's largest bicycle manufacturers, reported revenue rose 4.1 percent to TWD27.2 billion ($914 mm) for the first six months ended June 30, largely on the strength of sales in Asia.
The Taiwanese bicycle manufacturer reported pre-tax net profit of TWD2.41 billion ($81 mm), up 18.9 percent. Net income reached TWD1.72 billion ($58 mm), or TWD4.5 (15 cents) per share, up 19.9 percent.
Giant said it manufactured 3.19 million bicycles and electric bikes during the period. Giant branded products accounted for 30 percent of revenue growth, which was strongest in Taiwan. Operating performance was also strong in Australia and South Korea, but weaker in Europe and the United States due to lingering economic concerns.
Giant said sponsorship of the Belkin Pro Cycling Team paid off as it placed 5th of 22 teams competing in the 100th Tour de France. Giant claims to be the global leader in the new 27.5-inch mountain bike category, which has been popularized in part by Giant Factory Off-Road Team rider Carl Decker. The top- ranked U.S. mountain biker racer and resident of Bend, OR, has ridden a Giant Anthem Advanced 27.5 in many of his competitions.
