BikeBiz Bicycle and cycling retail news
The company incorporated in May 1996 is going great guns. With sales of 350 000 bicycles in 1999/2000 and a market share of perhaps 16 percent, Steven Walshs company has gone from a standing start to become the third (or fourth?) biggest bike company in the UK in only four years. Raleigh is the biggest still and Moore Large, with a turnover of £33m in 1999, is the second biggest. (However, if you strip out the scooter business and H&J, Moore Large isn’t so big in bikes as Falcon/Tandem which had a bike-only turnover of £21m last year).
Concepts year end is in July and audited accounts for 1999 will not be available until November, however BikeBiz has been told by Concept that their turnover, including Axcs Ltd., for August 1st 1999 to July 2000 was £20m.
According to figures provided by Companies House, this is a jump of £5m over the figures for July 98 to July 99.
Turnover
1999 £15.3m
1998 £13.13m
1997 £5.6m
Gross Profit
1999 £3.5m
1998 £2.6m
1997 £1.14m
Operating Profit
1999 £926k
1998 £665k
1997 £289k
Pre-tax Profit
1999 £803k
1998 £604k
1997 £251k
NB
In the August BicycleBusiness there will be an indepth interview with Robert Pollard of Concept who becomes the MD in January as Steven Walsh moves into the more strategic role of executive chairman. There will also be other news such as the departure of Steve Fenton who "has left the company to pursue his own business interests."
