Evans Cycles, recently acquired by ECI Partners, has seen its operating and pre-tax profits soar in the latest financial year, according to a report in Insider Media.
The website reveals that the cycle retailer's operating profits have risen from £2.6m to £4.4m, while pre-tax profits went from £2.3m to £4.2m for the year to November 2014.
According to Insider Media, Evans put the 70 per cent growth in operating profit down to "excellent cost control" and an increase in sales.
The company's £127.7m turnover is up by more than £13m on the previous year, which Evans attributes to an increase in stores nationwide, as well as a larger online presence.
>>> Sale of Evans Cycles to ECI Partners agreed
The business, which owns 56 shops around the UK, was sold by Active Private Equity on May 1 for an undisclosed fee. Active bought Evans in 2008 and has since overseen the retailer's transformation into a nationwide business.
In the sale to ECI Partners the private equity firm will assume 80 per cent of the business, while Evans' management team will reportedly retain the remaining 20 per cent.
-
-
Giro d'Italia standings: All the jerseys and classifications explained
Giro d'Italia 2021: all the standings for the stages, overall, mountains, points, best young rider and team standings throughout the race
By Tim Bonville-Ginn •
-
Sam Bennett eases to victory on stage three of Volta ao Algarve 2021
Ethan Hayter remains in the yellow jersey after a rather uneventful stage to Tavira
By Tim Bonville-Ginn •
-
Remco Evenepoel: You can’t prepare fully without racing, but that’s the risk we took
Belgian star is among the favourites to win the 2021 Giro d’Italia, having not raced for nine months
By Alex Ballinger •
-
Israel Start-Up Nation launch new wine inspired kit for the Giro d'Italia 2021
The design of the kit is meant to blend the red wine of their Italian sponsor with the blue of Israel's national flag
By Tim Bonville-Ginn •
-
Runner confronts pensioners who were setting traps for cyclists in popular park
A runner has revealed how he confronted pensioners who were leaving traps for cyclists in a popular path.
By Alex Ballinger •
-
Leaked discussions between WADA and UCI reveals tension over Chris Froome salbutamol case
A leaked discussion between the UCI and WADA have revealed the tensions caused by the Chris Froome salbutamol case.
By Alex Ballinger •
-
Passionate cyclist died after being hit by a police car during her first 10km run
A passionate cyclist has died after she was hit by a police car during her first 10km run.
By Alex Ballinger •
-
Are stiffer frames always faster?
Is the 'mine goes to 11' approach to stiffness always best? Michelle Arthurs-Brennan investigates
By Michelle Arthurs-Brennan •
-
Why get skinny when you could get fast? Why a rebalancing of perspectives is needed in cycling
Cycling’s obsession with weight is doing untold damage, argues Joe Laverick as he calls for a rebalancing of perspectives on fuelling, physique and performance
By Cycling Weekly •
-
Is the tubeless system flawed for narrower tyres?
Do the higher pressures of road tyres really make a qualitive difference?
By Stefan Abram •
