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Dahon Reports Steady First Half Growth

Published August 19, 2009

DUARTE, CA (BRAIN)— Dahon has had steady growth in sales for the first half of 2009, with a 6 percent increase in unit volume and a 27 percent increase in revenues, compared with the year earlier period.

“Sales for the first half of 2009 went remarkably well considering the global economic environment,” said David Hon, Dahon president and chief executive officer. “Despite the worldwide economic downturn, our sales remained stable as more people turned to cycling for transport. In the last few years, cycling has gained a lot of traction as a consumer lifestyle choice for transport in big cities and we expect this trend to continue.”

Dahon sold 254,000 folding bicycles in the first half of 2009 compared with 239,000 units during the same period in 2008. The 27 percent increase in revenues was driven by an increase in the average selling price of Dahon product as more people opted to invest in higher quality models for their commuting needs. Dahon also saw good growth in parts and accessory sales, especially through its network of 1,000-plus dealers in China.

“Bicycles continue to prove to be a viable and efficient form of transportation from an economic and resource standpoint,” Hon said. “More and more cities around the world are incorporating bicycle rental programs as part of their transportation infrastructure. And the overwhelming feedback from members of the global bicycle advocacy we met at Velo-city 2009 in Brussels is that folding bikes will be an integral part of future transport policy.”

Topics associated with this article: Earnings/Financial Reports

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