Profits dipped slightly, however

Chain Reaction Cycles sales reach £150 million

Online bike retail goliath Chain Reaction Cycles saw sales surpass £154m (€206m) in 2014, up six per cent. 

However the firm saw profits dip slightly – from £4.83m in 2013 to £4.8m, with ‘technology overheads’ cutting into that profit.

Sales outside the EU made up a third of Chain Reaction’s sales in ’14 while EU sales were up six percent to £102m.

According to the financial reports, the retailer cut a substantial number of staff in the 12 months to December 2014, from 612 to 540.

There’s further reading at the Irish Independent & Belfast Telegraph.

In other news...

Construction work to begin soon on new cycle route between Finsbury Park and Holloway Road

Transport for London (TfL) has confirmed that construction work will begin on a new cycle route between …