Giant’s profits slashed by 17% and sales down 13% for first half of 2024 – but company expects “gradual” improvement as inventory levels return to normal
Net profit after tax was also recorded as NT$1.67 billion , while due to profit growth in China, Giant’s group gross margin rate was at 21.3 per cent.), Giant’s consolidated revenue for the second quarter of 2024 was NT$21.17 billion , down 5.8 per cent from the same period last year. > Giant sues Stages Cycling and recruits four top executives from the now-shutdown US power meter brandIn July, Spia Cycling, a subsidiary of Giant, made a stalking horse bid for the Stages, after the bike brand showed interest in purchasing a one-third share in the ill-fated company last year, although negotiations fell through.
At the same time it was revealed that four former top executives from Stages had also joined the Taiwanese bicycle manufacturing giant, including Pat Warner, who served as Stages’ senior vice president of product research and joined Giant as vice president of product R&D. If you’ve enjoyed this article, then please consider subscribing to road.cc from as little as £1.99. Our mission is to bring you all the news that’s relevant to you as a cyclist, independent reviews, impartial buying advice and more. Your subscription will help us to do more.Ryan joined road.cc in December 2021 and since then has kept the site’s readers and listeners informed and enthralled on news, the live blog, and the road.cc Podcast.