TAICHUNG, Taiwan (BRAIN) — Giant Manufacturing registered first quarter sales of NT$14.69 billion ($467 million), up 5.2% compared to 2018's first quarter.
The company said strong demand for e-bikes and a rebound in sales in China, as well as favorable exchange rates, helped improve margin to 21%. Earnings per share were NT$1.82.
The company said Giant Europe outperformed its other regions with double-digit growth that was mainly driven by e-bikes with sales growth exceeding 60% over last year. U.S. market performance grew slightly. Giant China sales began a rebound in the fourth quarter last year and saw low single-digit growth in the first quarter this year. The company said China's "bike-sharing fever" is fading away.
Looking into 2019, Giant said the overall global economy and market situations pose many uncertainties due to the trade war between U.S. and China.
"In managing the current market uncertainties, Giant has developed strategies to enhance production automation and utilize its manufacturing facilities in both Asia as well as Europe to stabilize supply, improve lead time and (add) product value to aid its growth momentum," the company said.
