Tag Archives: finance

Halfords to repay £10.7 million of furlough income as sales grow

Halfords has updated the market on its recent trading performance, with full year profit before tax expected to be within the range of £90 million-£100 million. The board has therefore taken the decision to repay in full £10.7 million of furlough income received, and the profit range is after this …

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Shimano sees rise in bike component sales for 2020

Shimano has reported an increase in sales for the fiscal year 2020, with net sales increasing 4.1% from the previous year. Net sales from the bicycle components segment increased 2.7% from the previous year to 297,777 million yen, and operating income increased by 18.4% to 68,494 million yen, the company …

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Halfords sees cycling growth of 35% with continued strength in e-mobility

Halfords has reported cycling LFL growth of 35.4% in its Q3 trading update, covering the 13 weeks to 1st January 2021. This was driven by continued strength in adult mechanical, e-bikes and e-scooters, despite global container shortages and port congestion impacting availability. The retailer’s performance cycling business Tredz continued to …

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Science in Sport set for 51% online sales growth in 2020

Science in Sport has issued an update on trading for the current financial year, reporting continued momentum in its online business and ‘substantial’ improvements in gross margin. Online channels continue to perform ‘very strongly’, it said, and this has offset some of the downturn caused in the retail channels by …

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Halfords sees strong cycling revenue growth in H1 as e-mobility rises 184%

Halfords has reported strong cycling revenue growth through H1, finishing at 54.4% LFL. E-mobility rose by 184% and cycle services 24%, the retailer announced in its interim results for the 26 weeks to 2nd October. The retailer saw group revenue growth of 9.6% and profit before tax of £56 million. …

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Dorel Sports reports continued growth, new pandemic wave expected to impact Q4

Dorel Sports has seen its sixth consecutive quarter of revenue growth, with third-quarter revenue at $305.6 million, an increase of 22.1%. The continuing record demand for bicycles throughout the summer drove another quarter of ‘substantial’ growth at the Cycling Sports Group (CSG) and Pacific Cycle divisions. Caloi’s revenue increased in …

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Thule Group sees 52% currency-adjusted growth in Q3

The Thule Group has reported currency-adjusted growth of 52% for the third quarter of 2020. This means the group has achieved a currency-adjusted sales increase of 7% for the first nine months of the year, said CEO and president Magnus Welander. Net sales for the quarter amounted to SEK 2,436 …

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ArmaUrto completes £300,000 funding round with CIOSIF support

ArmaUrto has secured a £150,000 equity investment from the Cornwall and Isles of Scilly Investment Fund (CIOSIF), as part of a larger £300,000 funding round. The investment round was led by The FSE Group, the appointed fund manager of CIOSIF. ArmaUrto’s management team includes former Moss Bros CEO Rowland Gee …

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Blubrake completes $6 million Series A round to expand safety solutions for e-mobility

Blubrake has announced a $6 million Series A round, allowing the company to reach total funding above $10 million. The funding round was led by e-Novia, the deep tech ‘Entreprises Factory’ within which Blubrake was founded and completed its acceleration process. Other investors included Progress Tech Transfer and some private …

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Halfords forecasts H1 pre-tax profits of £55 million as cycling momentum continues

Halfords has reported continued growth in cycling, up 46% like-for-like in the five-week period to 25th September. H1 profit before tax is expected to be in excess of £55 million, as a result of the momentum in cycling and motoring products and services. The retailer’s 20-week trading update on 8th …

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