Shimano’s bike division sales see steady progress

Third quarter financials from Shimano show the components giant’s bike division trade to be up 6.3% in the three quarters like-for-like.

Having steadied distributor inventories in North America and enjoyed healthy trading throughout Europe, Shimano saw sales total 212,640 million Yen (approx $1.95 billion) during the period, while operating income rose 2.5%.

Bike Division sales in North America did dip marginally, but an increase in value saw revenues steady over the period. Further south the Brazilian market was described as slow while sales in Argentina were said to have stagnated as the currency depreciates.

Factoring in other divisions of the business net sales increased by 6.1%, rising to 269,523 million Yen. As a result operating income increased by 5% to 50,394 million Yen.

Looking forwards the forecast for the full year remained unchanged, aside from ordinary income projects adjusted which were boosted 6.5% in relation to Asian currency changes and the return of public land at Shimano’s Chinese plant.

Sales in the firm’s fishing division rose 5.4% like-for-like, while operating income rose 22.9%.

In case you missed it: Shimano has filed a patent for an ABS braking system for bicycles.