Triumph Motorcycles Group has announced its financial results for the year to June 30, 2011, demonstrating a solid performance in a difficult global market.
Group turnover increased by 11% from £312.4 million in 2010 to £345.3 million in 2011 and unit sales of motorcycles increased by 7% from 45,501 to 48,684. This increase in unit sales can be largely attributed to the introduction of incremental models to the range.
The operating profit before interest and tax grew from £15.1 million to £22.3 million due to strong sales of motorcycles and related products, benefiting from improved use of working capital and continued focus upon the cost base.
2011 was another very difficult year for the global motorcycle industry. The global market (for motorcycles bigger than 500cc) is down almost 50% from its peak four years ago, decreasing by 7% within the last year alone. Triumph had a strong year in 2011 thanks to the effort from the Triumph team including our dealer network globally.
Triumph remains cautious in terms of the general market outlook for 2012 due to the continued global economic turmoil and the impact upon consumer confidence and in particular spending on discretionary consumer goods.
New models are extremely important in driving growth and we have been able to increase spending in our R&D investment during the recession, which continues to positively impact our business. This year, Triumph has already launched three new motorcycles: the Tiger Explorer, Speed Triple R and the Steve McQueen Special. Feedback from dealers, press and the public has been extremely positive.
