Lancashire-based cycling specialist announces 22% increase in annual profits.
Specialist cycling retailer Ribble Cycles has announced a 22% increase in its annual profits. In 2012 the company’s pre-tax profits rose from £2.13m to £2.6m – achieving a record financial performance.
Based at Walton Summit in Preston and employing 50 people, Ribble attributes its profit growth to the raised profile of cycling throughout 2012. In the wake of the Olympic Games in London and the British success in the Tour de France, Ribble Cycles have seen a significant increase in their sales figures.
Managing director of Ribble Cycles, Terry Dove, commented:
“The success of Sir Bradley Wiggins in last year’s Tour de France and the coverage of cycling at the London Olympics has had a marked effect on our performance. Our increase in profitability has, however, been mainly due to the strong and growing demand, both here and overseas, for our own Ribble bike brand.”
Mr Dove expects, however, that replicating this success in 2013 will be a bigger challenge than in 2012 as Ribble is moving its entire operation to larger premises.
A new deal has recently been completed to move the firm to new premises at Walton Summit; this will give Ribble 43,000 square feet of space and is expected to dramatically improve the company’s efficiency.
Meanwhile, Ribble is expecting a busy couple of months as Britain’s interest in cycling continues to gain momentum and La Vuelta a España grows ever nearer. Following that, the Tour of Britain will no doubt ignite another surge of enthusiasm for the sport.
“Our regular customers get excited about these events, just like we do, every single year. But the Olympic spirit is very much still out there amongst new riders and hopefully, the recurring tours can keep that spirit alive for a long, long time.”
To find out more about Ribble Cycles visit www.ribblecycles.co.uk
About Ribble Cycles
Since 1897 Ribble Cycles has been supplying high quality road bikes and parts to customers in the UK and overseas. As well as manufacturing their own custom-made road bikes
, Ribble also supplies high performance bicycle parts from the world’s top cycling brands, including Shimano and Campagnolo.
Although Ribble originally traded from its premises on Watery Lane, Preston, it now operates exclusively over the internet offering free UK delivery on many items. From parts and accessories to specialist cycling clothing and energy food to improve every inch of your performance, Ribble will deliver it straight to your door.
Press release distributed by Pressat on behalf of Ribble Cycles, on Wednesday 10 July, 2013. For more information subscribe and follow http://www.pressat.co.uk/