Leading European bike business Accell Group NV – which owns brands such as Raleigh and Van Nicholas, alongside Koga and Lapierre amongst others – recorded net profit of €27.5 million in the first half of 2014, a rise of 13% year on year.
The higher profit was largely due to an ‘improved sales mix, realised costs-savings and a book profit on Hercules (Germany), which Accell Group divested early this year.’
Accell Group reported an organic increase in turnover of 4%, taking total turnover to €506.2 million in the first half of 2014, compared with €503.8 million in the 2013 period. The group’s operating profit rose by 7% to €38.2 million, from €35.6 million in the year-earlier period.
For the second half of 2014, Accell Group notes that ‘a strong collection of innovative bicycles… will make further turnover growth possible… Macro-economic developments, consumer confidence and weather conditions [in key markets] all impact Accell Group’s financial results and are difficult to predict.’
‘Accell Group expects the positive underlying trends and outlook to continue in the second half of the year. Also less discounts are expected to be granted for the sale of bicycles [than in] the previous season. This means that, barring unforeseen circumstances, Accell Group expects and organic increase of turnover and result for the second half of the year 2014.’
