Giant Group reported that consolidated revenue for the second quarter inched down 1.2 percent as sales in June fell in double-digits, erasing a strong start for the period. Still, the dip is a sequential improvement from the first quarter, when sales were down nearly 10 percent versus the prior-year comparable period.
Revenue for the Taiwan-based bike manufacturer totaled NT$22.42 billion (US$ 730.3 mm) in the second quarter, a decline of 1.24 percent from NT$22.70 billion in Q2 2022.
June sales were down 13.5 percent from the prior-year comparable month, following a 3.5 percent decline in May as the declines versus the larger shipment months in 2022 offset a 20.3 percent increase in sales in April to start the quarter. April was the only positive sales month for the year through June.
First-quarter sales were down 9.6 percent versus the year-ago Q1 period.
First-half sales were down 5.4 percent to NT$44.56 billion (US$1.39 bn) from NT$45.00 billion in the year-ago first half.
Photo courtesy of Giant Group
