Shimano reports 3.4% uplift in fishing tackle sales in 2019
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Japanese tackle giant, Shimano, reported a 4.4% increase in sales in 2019 compared to the previous year, with its fishing division recording a 3.4% uplift.
The bicycle components and tackle supplier saw combined sales of 363,230m yen, with 72,838m contributed by its much smaller fishing division.
It reported steady tackle sales from its domestic market until September when he country was hit by typhoons.
Overseas, it said that the North American market experienced solid sales, supported by a firm economy. European sales were described as ‘sluggish’, with some countries in the region showing signs of recovery, particularly the UK, which underpinned the market.
In China retail revenue continued to be favourable, while the bush fires and drought hindered sales in Australia.
Looking ahead, Shimano said that there are lingering concerns about the trade issues between the US and China and the heightened geo-political risks in the Middle East, In addition, it said that the economy in Europe threatens to decelerate as a result of Brexit.
However, it expects expanded consumer spending in the US to lead to a continued economic recovery despite the unpredictable effects of the Presidential election.
The company is forecasting sales in 2020 of 372,000m yen – a 2.4% increase on 2019.