Indian automotive group Eicher’s Royal Enfield business has delivered its best-ever financial results in the 12 months to 31 March 2016, after churning out more than half a million motorcycles.
Revenue climbed by 55.7% to £543.9m on the back of a 53.4% sales volume increase to 508,099 bikes. Associated operating profit was 74.5% up at £141.58m. Net profit grew by 66.1% to £105.8m.
In the results statement, Eicher chief executive Siddhartha Lal announced a fresh £62m R&D investment — some of which will be spent at the company’s UK technical centre in Leicestershire — and said that Royal Enfield intends to produce 675,000 units during its 2016-17 financial year.