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Taiwan’s Giant ‘10 Earnings Lifted by Global Warming

Source: Taiwantrade | Updated: 17 December 2010

Giant on October 26 announced net earnings of NT$2.34 billion(US$7.8 million) for the first nine months of the year, up 29.6 percent from a year earlier. Earnings per share were NT$6.6.

During the same period, Giant had sales of NT$33.38 billion, up 12.3 percent from the same period in 2009.

"Buying environment-friendly products, like bicycles, has become a trend in the global market," MasterLink Securities analyst Tom Tang said. "Giant is one of the beneficiaries of such a trend."

Tang said the EPS of NT$6.6 was relatively high for the old economy sector.

"It is very possible for the company to generate an EPS of NT$8 for 2010," he said.

According to Giant, while sales in the domestic market appeared to have slowed after a strong showing in 2009, its sales in overseas markets, including the United States, Europe, China, Japan, Australia and Canada, continued to grow.

A new subsidiary in South Korea that began operations last year also generated better than expected gains in earnings.

Foreign institutional investors now own about 50 percent of Giant's shares in circulation, a ratio few old economy stocks could match, Tang said.

Please click here for bicycle related products on Taiwantrade.

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