TAIPEI, Taiwan (BRAIN)—Taiwan’s top two manufacturers reported modest revenue increases in July and for the first seven months of the year, according to numbers released on the Taiwan Stock Exchange.
Merida was up 12 percent in July and 14 percent year-to-date. The supplier to Specialized and its own brand ended the month at NT$ 1.1 billion ($39.4 million), up from NT$ 1 billion ($35.1 million) for the same month last year. So far this year, Merida has earned NT$ 6.9 billion from its Taiwan operations.
Giant, the island’s No.1 manufacturer, was up 5.6 percent in July with revenue of NT$ 1.4 billion ($50.3 million) compared with NT$1.3 billion ($47.6 million) in July 2010. At the end of the month, Giant reported NT$ 9.6 billion ($334.3 million), an uptick of 3.3 percent from the same time last year.
Ideal’s revenue plummeted percent in July, but remained up almost 3 percent for the year. The manufacturer for Advanced Sports Inc., Cannondale and a number of boutique brands, reported revenue of NT$ 145.5 million ($5 million) compared with NT$ 202.3 million ($7 million) last year. The decline may be related to Ideal’s previously stated strategy to move more production from Taiwan to its factories in China and Poland. It could also be related to revenue righting itself from swings earlier this year. Ideal’s Taiwan revenue was up almost 50 percent in June, preceded by a 26 percent gain in May. Revenue came in steady around 10 percent in February, March and April, but was down 32 percent in January.
Kenda Rubber, maker of Kenda bike tires as well as tires for the auto, motorcycle and industrial industries, reported revenue of NT$ 511 million ($17.7 million) for July, an increase of 5.7 percent, and NT$ 1.6 billion ($57.4 million) for the year, a 19 percent jump.
*Conversions use the 7/31/11 exchange rate of $1=NT$28.87 and factor in manufacturers’ Taiwan operations only.