Improved product mix, Ghost acquisition and strong bike sales boost results; Firm expects more of the same in 2009

Accell sales and profits soar

Bike, parts and accessory manufacturer Accell Group has reported a 17 per cent rise in net profit to 28.6 million euros in its 2008 financials, while organic sales grew at 8 per cent for the company.

Accell put the positive results down to an improved product mix, good bike sales and the acquisition of Ghost – increasing turnover 13 per cent to 538 million euros.

Contrary to the economic difficulties the world is facing, including yesterday’s six-year low closing total for the UK’s FTSE 100, the firm was optimistic about the future and anticipated that its positive results would be bettered in 2009.

“On the basis of sustainable trends and the current order book we expect for 2009 a further increase in turnover and result in further economic developments and unforeseen circumstances," said René Takens, chairman of the board of Accell Group.

Thanks to Google for the translation.

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