TAIPEI, Taiwan (BRAIN) — Two more of Taiwan's publicly traded bike manufacturers are reporting some mixed financial news, following Giant Group's announcement that its profits jumped in the second quarter.
Merida’s first half revenue was NT$12.3 billion ($38.5 million), down from NT$14.6 billion in the half last year.
Like Giant, Merida Industry’s fortunes improved somewhat in the second quarter after a slow start to the year. But Merida has seen just one month of year-over-year revenue growth this year, in May, when revenues were up 18%. For the year to date through July, revenues were down 13.2%. Merida was profitable in the half, however, with net profit attributable to the parent at NT$600 million, down from NT$800 million in the first half last year. Earnings per share were NT$1.06, versus NT$1.32 in the first half last year.
Ideal's first-half revenue was down 20% from last year, and for the half, Ideal recorded a loss attributable to owners of NT$180.6 million compared to a loss of NT$234.8 million in the first half last year. On the upside, Ideal recorded a big bump in revenue in the first month of the third quarter, when sales were NT$308.0 million, up 88% from the same month last year. Profit figure are unavailable for July.
