Leading European bike producer Accell Group – owner of road bike brands such as Koga and Lapierre – continued its rise in turnover and net profit in 2010.
Turnover rose by 1% to €577.2 million, up from €572.6 million in 2009. Poor weather conditions for bike sales in the fourth quarter and adverse exchange rate effects led to a drop in the operating result in the second half of 2010, compared with the same period of 2009.
However, tax benefits and lower interest charges resulted in a rise in net profit of 11% to €36.4 million in 2010, compared with €32.7 million in 2009.
Ren
