Profits dipped slightly, however

Chain Reaction Cycles sales reach £150 million

Online bike retail goliath Chain Reaction Cycles saw sales surpass £154m (€206m) in 2014, up six per cent. 

However the firm saw profits dip slightly – from £4.83m in 2013 to £4.8m, with ‘technology overheads’ cutting into that profit.

Sales outside the EU made up a third of Chain Reaction’s sales in ’14 while EU sales were up six percent to £102m.

According to the financial reports, the retailer cut a substantial number of staff in the 12 months to December 2014, from 612 to 540.

There’s further reading at the Irish Independent & Belfast Telegraph.

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