Profit and turnover up for manufacturing giant

Accell puts in strong first half performance

Following strong results earlier in the year, Accell Group has seen fresh growth in profit and turnover, according to this report on BikeEurope.

In the first half of 2009, Accell saw a 9 per cent rise in turnover to €333 million. Organic turnover reached seven per cent, compared with 6 per cent in the first six months of 2008.

Net profit rose to €22.1 million in the first half of 2009, topping the 19.3 million total from the first six months of 2008.

Chairman of the exec board René Takens said: “We continued to grow in the first half of the year and were also able to further improve our results.

"We are continuing to benefit from the sustained awareness among consumers of the environment, mobility, health and active leisure time. This means that also in the coming years, cycling will increase in popularity."

Takens added: “Consumer interest in our products remains high, especially for the electric and sports bicycles and the bicycles for special target groups in the middle and higher segments of the market.

"Barring unforeseen circumstances and further economic developments, we currently expect a higher turnover for the full year 2009 and an increase in net profit of around 10 per cent.”

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