British flag carrier Triumph Motorcycles Group has enjoyed a generally positive fiscal year, despite what the company describes as “challenging economic and currency [translation] conditions, including the atmosphere of uncertainty caused by Brexit negotiations”. BDN financial editor Roger Willis reports.
In an annual results statement covering the 12 months through to 30 June 2019, Triumph has announced a 5.3% rise in global revenue to £529.5m. Although profit before interest, tax, depreciation and amortisation fell by 3.1% to £24.6m, pre-tax profit contributed to parent Bloor Holdings was 5.6% up to £9.5m. The brand’s worldwide retail sales volume dropped slightly by 1.6% to 60,131 bikes. UK domestic deliveries were 7.6% down to 8298. But overseas markets lost only 0.6% at 51,833.
The fruits of a 20.6% surge in R&D expenditure during this period, to £43.4m, are now being realised through a substantially strengthened product line-up. New bikes being rolled out to customers extend from Rocket III R and GT models, a limited-edition Moto 2 Daytona 765, Street Triple RS and Thruxton RS, to the Tiger 900 range, as well as premium limited-edition Triumph Factory Customs.
Other initiatives in the fiscal year were entry into two new overseas markets, via a wholly-owned subsidiary in China and distribution partnership in the Philippines — plus an electrification development project in association with Williams Advanced Engineering, Integral Powertrain and WMG, at the University of Warwick.