Turnover and sales up, but profits down as Evans invests

Evans Cycles has revealed a rise in sales and turnover in the year till November.

According to City AM, sales rose 11 per cent with turnover up £94.3m to £104.9m. However, pre-tax profits down 70 per cent to £269,000 from £893,000.

According to Retail Week, the fall is down to investment in new stores, Evan’s website, new IT systems – and weather. 

Evans told RW: "We continued investing in stores and systems despite it being a tough year. We achieved sales growth and flat profits, which we are proud of."

There’s more financial news from the cycle industry here.