Shimano’s Sales and Profits Soar Higher
Osaka, Japan
The third quarter financial update from Shimano, for the first nine months of 2021 to 30th September 2021, has illustrated the world’s largest bicycle component supplier’s rush to fill a void in supply, with net sales in the nine months to September up 49.6%.
That acceleration of trading saw the firm’s operating income rise 97% to 106,973 million Yen (A$1.25 billion) over the same period and an earnings per share making similar progress at 928.36 Yen (A$10.80), versus 509.51 Yen (A$5.93) over the same period last year.
In commenting on their latest quarterly performance Shimano said that they’d further increased production in response to high demand. They also said that their new Dura-Ace and Ultegra high end road groupsets were ‘enormously well received by customers’.
A longer version of this article was previously published by Mark Sutton in Cycling Industry News (UK).