TAICHUNG, Taiwan (BRAIN) — Giant Group is reporting its third-quarter revenues were up 6.2% over the same quarter last year, while operating profit in the quarter rose 29%. Through the first three quarters of the year Giant's revenue is down 5.1%, although operating profit for the nine months was up 4.7%.
Sales in the nine-month period were NT$45.5 billion ($1.39 billion) compared to NT$47.96 billion over the period last year.
"As the global bicycle market showed signs of a gradual recovery, the Group's operations demonstrated solid recovery momentum," the company said in a statement Monday. "Third-quarter revenue grew year over year for the second consecutive quarter, while operating profit for the first nine months shifted from a year-over-year decline in the first half to year-over-year growth, reflecting continued improvement in core operating profitability."
The company said "strong sales of flagship models for the new model year sustained momentum in the Group's own-brand business. Sales in both Europe and China grew year over year during the first nine months, supported by new product launches, while demand in North America remained relatively soft amid macroeconomic pressures and inflation. Strong sales of higher-value new products under the Group's own brands, with no clearance discounting needed this year, improved the Group's overall gross margin and profitability for the first nine months."
Giant said its OEM business remained soft over the period, in part because of a high comparison base to 2025.
