BikeBiz Bicycle and cycling retail news
Parts still be scarce and the global shortage of key Shimano components may still be holding up some bike deliveries but a glance at the Japanese companyÂ’s latest financial figures show that the company is not just surviving, itÂ’s thriving.
Shimano’s first half-year ended June 30th, and saw sales of 84.9 billion yen (£435.55m), a near 18 percent increase over the 72.2 billion yen (£370.31m) of the same period year on year. Net income increased by 50 percent to 9.3 billion yen (£47.8m) compared to 6.2 billion yen (£31.9 m) for the previous year.
The bulk of the sales spike came from the European market, 40 percent of Shimano’s turnover with 33.9 billion yen (£174.17m) in sales. Asia accounted for 26.4 percent of sales with 22.4 billion yen (£114.98m) while North America accounted for 16.5 percent with 14 billion yen (£71.84m).
Fishing tackle sales remain important, at a quarter of the business, but it’s the bicycle division which fuels the company’s continued growth, making up 73 percent of Shimano’s sales. Bicycle component sales were 63.3 billion yen (£324.82m).
The Tokyo-listed company increased its projections to reflect the storming performance of the first half, with sales now seen increasing 18.4 percent to 170 billion yen (£890m) and income increasing 59.8 percent to 19.5 billion yen (£100m).
A 1MB PDF of the financial results to June 30th can be found at:
