Endura pedals back to profit after lockdown revenue success
Lockdowns were actually a positive for some companies. Endura was one of them, with the Scotland-based cycle gear producer riding high after consumer interest rocketed last year when the pandemic spread globally.
The Pentland Group-owned business saw turnover pedal 29% higher to £36.2 million, according to annual accounts recently filed at Companies House and seen by The Times. Pre-tax profit grew to £2.7 million in the 2020 calendar year, compared with a loss of £900,000 for the previous 12 months.
While demand for its goods hit the growth trail in autumn 2019, it noted consumer interest in cycling rose significantly last year, particularly as coronavirus restrictions kicked in, with corresponding sales growing significantly in the UK, Europe and the United States.
Its cycle clothing, accessories and equipment now have a strong following from the casual enthusiast through to the professional cyclist and triathlete.
And in its trading statement, the company said: “While there were variances in different countries with different forms of lockdown and a spectrum of logistical and retail challenges, the underlying theme of increased consumer engagement with cycling during lockdowns remained the same across all of the company’s major markets”.
Meanwhile, as part of its 2020-introduced ‘One Million Trees Initiative’, Endura announced it has now planted more trees than expected and is ahead of its schedule. With the help of its reforestation partners in Mozambique, the first year’s target was exceeded by 30%, with more than 1.3 million mangroves planted in the Maputo Bay area.
Plans also include starting planting trees in its native Scotland soon.
Copyright © 2021 FashionNetwork.com All rights reserved.