Profits at the folding bike manufacturer based in Greenford, Middlesex fell from over £10m to £4,602 for the year ending March 2024. The MD of Brompton blames the huge fall in profits on lack of sales and large discounting by bike manufacturers after overstocking during and after the coronavirus pandemic. A large increase in operating costs was also cited as compounding the issue. Interestingly its been the collapse of the domestic market thats been mainly to blame for the dramitic fall in profits with exports remaining stable.
Post covid has been a very difficult time for bicycle manufacturers. During the pandemic supply couldnt keep up with demand due to factory closures. Once supply didnt keep up demand plummeted leaving them with large amounts of excess stock. The slowdown has already claimed a number cycling related victims including Moore Large, Wiggle, Chain Reaction, GT etc.
The MD of Brompton Bicycle has predicted that 2025 will be another difficult year for the bike industry .
