Daiwa parent reports strong sales across US and Europe

Latest figures for Globeride, the parent company of Daiwa, are flat at home but strong in the US and Europe.

The Japanese company has reported second quarter net income up 28% to $23.8m on 12% higher revenues of $287.9m.

Sales were hit by pandemic restrictions in the company’s domestic market and Australia, while the rest of the world performed significantly better.

Revenues were flat in Japan, the Americas jumped 63%, Europe improved 57% and Asia/Oceania was up 23%. Gross margin grew to 38.2% but operating expenses jumped 27%.