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Tag Archives: finance

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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Halfords sees electric bike and scooter sales up 230%

Halfords has released its trading update for the 20-week period to 21st August, with cycling like-for-like revenue up 59.1%. There was growth across all product categories, the retailer said, with an increase of 76% in Halfords’ performance cycling business, Tredz. Sales of new products were up 114% in the period, …

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Dorel Sports reports fifth consecutive quarter of growth

Dorel Sports has reported its fifth consecutive quarter of growth, with revenue at $285.6 million – up 18.5% from last year. Excluding the impact of varying foreign exchange rates, organic revenue improved by approximately 21.1%. The strong performance was at the Cycling Sports Group (CSG) and Pacific Cycle divisions, Dorel …

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Wilier Triestina aims for UK and international growth with new shareholder

Wilier Triestina has announced a new shareholder, Pamoja Capital, to support the brand with UK and international growth. The Italian company, founded in 1906, will remain in the hands of the Gastadello family. Currently, 3.5% of Wilier sales are from the UK. Andrea Gastaldello, CEO of Wilier Triestina SpA, said: …

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Shimano’s bike component sales decrease 14.6% in first half of 2020

Shimano has released its summary of financial results from 1st January to 30th June 2020. Net sales from the bike components segment decreased by 14.6% from the same period of the previous year to 122,613 million yen, and operating income decreased 19.7% to 22,963 million yen. The company said that …

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Accell Group sees ‘steep’ post-lockdown sales rebound

The Accell Group has recorded a year-on-year sales growth of 53.1% in June. This brings H1 net sales to €676.9 million, up 4.0% vs last year, despite the impact of lockdown in March and April. H1 EBIT came in at €45.1 million (excluding one-offs: €47.5 million), trailing H1 2019 levels …

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Cowboy raises €23 million in Series B funding

Cowboy has completed its Series B funding round, totalling €23 million. Leading the round is Exor Seeds, the early-stage investment arm of Exor, controlling shareholder of Ferrari and FCA, HCVC, and Isomer Capital, joined by Future Positive Capital and Index Ventures. Adrien Roose, co-founder and CEO, said: “We’re thrilled about …

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Halfords reports surge in cycling sales

Halfords has reported strong growth in cycling sales during the COVID-19 lockdown. Group sales for the 13 weeks to 3rd July were down 2.8% compared to last year and down 6.5% on a LFL basis, “significantly better” than anticipated in late-March, Halfords said, and an improvement on the 23% LFL …

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