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November Revenue Up for Taiwan’s Top Two

Published December 27, 2010

TAIPEI, TAIWAN (BRAIN)—Revenue for Taiwan’s top two manufacturers rose in November, putting both Giant and Merida on track for double digit growth in 2010, according to numbers released on the Taiwan Stock Exchange.

Giant, the island’s No.1 frame producer, saw 17.5 percent growth last month, with revenue increasing from NT $1.6 billion ($54.5 million) compared with NT $1.4 billion ($46.3 million) for the same month in 2009. Year to date, Giant is up 18.5 percent. Through November, the company had reported revenue of NT $16.2 billion ($533.4 million), up from NT $13.7 billion ($449.8 million) at the end of the same month last year.

Merida, the second largest frame supplier in Taiwan, saw revenue spike 26 percent in November, up to NT$ 1.2 billion ($42.1 million) from NT $ 1 billion (33.4 million) last year. For the first 11 months of the year, Merida is up almost 9 percent—from NT$ 10.1 billion ($333.7 million) in 2009 to NT $11 billion ($363.5 million) this year.

Ideal’s November numbers were up just a tick, but not enough to offset this year’s revenue slide.

Ideal reported revenue of NT$ 314.7 million ($10.3 million) last month compared with NT$ 311.4 million ($10.2 million) in November 2009. For the year, Ideal has fallen 21.6 percent, from NT$ 3.2 billion ($105.8 million) last year at the end of November to NT$ 2.5 billion ($82.9 million) at the same time this year.

Figures use the Nov. 30 exchange rate of $1=NT$ 30.4. Numbers do not include mainland China operations.

—Nicole Formosa
nformosa@bicycleretailer.com

Topics associated with this article: Earnings/Financial Reports

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