In the latest Press Release stating the Financial Results for 2024 first half, the Giant Group consolidated revenue was NT$37.23 billion (NT = New Taiwan Dollar), a decrease of 12.6% from the same period last year. The company stated due to profit growth in China, group gross margin rate was at 21.3%, net profit after tax was NT$1.67 billion, a decrease of 17.1% from the same period last year. EPS was NT$4.27.
As the sales of high-end bikes in China domestic market continued to be strong, Giant Group consolidated revenue in the second quarter was NT$21.17 billion, a slight decrease of 5.8% from the same period last year. Due to the increase in the proportion of own brands, group gross margin rate to rebound to 22.2%, net profit after tax was NT$1.15 billion, a decrease of 2.5% compared with the same period last year. EPS was NT$2.94.
Looking forward to the second half of the year, inventory adjustments in the European and American markets will return to normal, and the cycling trend in the Chinese market will continue to drive performance growth. It can be expected that the group’s operations will gradually improve.
About Giant Group:
Giant Manufacturing Co. Ltd. was established in 1972 and has 9 manufacturing factories worldwide. The company employee count is 13,695, with over 10K sales channels and 4 brands namely – Giant, Liv, Momentum and CADEX.
Source: Giant Group
You might also like to read about AUSTRALIAN CYCLE TOURS
Support this blog, buy me a coffee from here
Follow this blog on youtube, facebook, twitter and instagram
Author: Vijay Malhotra, Mumbai
One thought on “GIANT GROUP CONSOLIDATED REVENUE DECLINED BY 12.6% IN 2024 FIRST HALF”