Triumph sales accelerate in tough market
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Friday 02 December 2011
Despite the ill winds blowing through the wider sector, Triumph, the Leicestershire-based motorcycle manufacturer with a heritage that stretches back over 100 years, showed that it was continuing to race ahead yesterday, with turnover up by 11 per cent in the year to June.
The company said it had sold 48,684 bikes over the period, up from 45,501 last year, notching up a turnover of £345.3m, against £312.4m in 2010. Drawing steam from the introduction of improved models to its range of motorbikes and from sales of related profits, Triumph said its operating profits before interest and tax had swelled from just over £15m last year to £22.3m in 2011.
The performance was particularly noteworthy in the context of the broader motorcycle market. Triumph, which launched three new models this year, including the Tiger Explorer and the Speed Triple R, said that while sales were up, the global market for motorcycles bigger than 500cc was down nearly 50 per cent from its peak four years ago. It is down by 7 per cent in the last year, according to the company.
And with leading economic indicators flashing red, Triumph expressed caution in its outlook for 2012, highlighting the "continued global economic turmoil and the impact upon consumer confidence, and in particularly on discretionary consumer goods".
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