Giant Group reported consolidated sales were NT$76.95 billion for full-year 2023 through December, a decrease of 16.4 percent compared to the 2022 full-year period.
December revenues were down 25.8 percent to NT$4.17 billion, compared to NT$5.62 billion in December 2022. Still, the Taiwan-based bike manufacturing group, which reports in New Taiwan Dollar (NT$) currency, reported a slight improvement versus the fourth quarter and second half of 2023.
The December sales trend was another sequential improvement from November, when sales fell 28.1 percent, and the overall fourth quarter, when Giant Group reported a sharp 39.9 percent decline due, in part, to a reduction in order placements from OEM customers. The second half was the apparent problem for the year, declining 26.9 percent year-over-year for the period, compared to a much milder 5.4 percent decline in the first half.
Image courtesy Giant Group
