Giant Group revenue up 55% in Q1

Giant Group revenue up 55% in Q1​

Giant Group revenue up 55% in Q1 Bicycle Retailer

TAICHUNG, Taiwan (BRAIN) — Giant Group saw sales of NT$20.63 billion ($740 million) in its first quarter, a 54.8% increase over the same period last year. The company's net income grew 170% to NT$1.7 billion with an earnings per share of NT$4.54.

"(The) group's first-quarter result was benefited from the strong demand from the market both own brand as well as OE businesses have growth compare the last year. In terms of own brand performance, Giant Europe and North America grew around 70% in local currency. The China market also delivered exceptional results with over 90% growth in sales," the company said.

Giant's own branded e-bikes are its fastest growing segment, and the company said while Europe is still its key sales driver for e-bikes, the U.S. e-bike market is showing growth.

In the first quarter, e-bike sales, including OE business, accounts for 30% of Giant Group sales.

Giant is scheduled to convene its Annual General Meeting on June 24 where a cash dividend of NT$8 per share will be proposed.

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