Cycle maker’s boss says discounting after Covid boom means ‘sad state of affairs’ in global market likely to go onThe boss of Brompton Bicycle has predicted another year of turmoil for the bike industry in 2025 after profits at the British folding cycle maker dived by more than 99% amid a wave of discounting by rivals.Profits fell from £10.7m to only £4,602 in the year to the end of March 2024 – less than the cost of Brompton’s top-of-the-range T Line Explore bike – as riders sought cheaper options during a cost of living squeeze. Continue reading…
Source link : https://www.theguardian.com/business/2025/jan/02/brompton-profits-plunge-amid-bike-industry-turmoil
Author : Sarah Butler
Publish date : 2025-01-02 13:54:00
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Brompton profits plunge more than 99% amid bike industry turmoil
By IntelliNews