BikeBiz Bicycle and cycling retail news
Tiso Group, the UK outdoor clothing and equipment specialist retailer, has reported a rise in profits in the year ending January 31st 2010.
The group – owners of Scotland-based cycle retailer Alpine Bikes – saw gross profit increase to £12.4m (from £11.9m in 2008). Operating profit increased to £1.4m from £0.4m in 2008, while profit before tax rose to £1.2m (from a £0.1m loss in 2008).
Alpine Bikes generated a turnover of £3.6m (from £3.7m in 2008) and profit before tax of £0.2m (from a loss of £0.1m in 2008).
Earlier this year, Alpine Bikes told BikeBiz that 2009 had been one of the most successful in its history.
The group’s financial statement said that Alpine Bikes had benefited from supply chain developments and disciplines established within the group, including a sophisticated IT system. Tise Group also pointed to the excellent potential of Alpine Bikes.
“This has been a strong performance for the Group, despite challenging trading conditions," said
CEO Chris Tiso. "The strategic and operational changes we put in place over the last year have significantly transformed our business and provided us with a solid foundation upon which to grow both organically and by acquisition.
"While we anticipate that the economic environment will continue to impact the retail sector, as a Group we are well positioned to continue our strong progress and remain focused on further improving operational efficiencies and maintaining customer loyalty to deliver long term value."
