Huge loss for Raleigh in 99

On a turnover of £52.4m in 1999 Raleigh made a pre-tax loss of £4.2m. In the previous year, losses had been kept under £1m.

In 1997 Raleigh made a pre-tax profit of nearly £4m on a turnover of £69m.

Heres the raw data (in millions):

1999 1998 1997 1996

Turnover 52,430 51,915 68,916 71,500

Cost of Sales 55,243 52,392 64,619 69,514

Gross Profit (2,813) (477) 4,297 1,986

Operating Profit (3,784) (477) 4,297 1,986

Interest Payable 453 670 969 965

Pre-tax Profit (4,237) (992) 3,551 1,057

Taxation (947) (389) 1,257 419

Profit After Tax

Dividends Payable 0 0 2,294 568

Retained Profit (3,290) (603) 0 70

PS

Raleighs company report also throws up the fact that Gary Matthews, CEO of the Derby Cycle Corporation, was made a director of Raleigh Industries Ltd. on 10th August 2000.

PPS

This is the kind of news story that will make it on to BBC before it goes on the main site in a beefed-up version.