Thursday, July 13, 2000
HEERENVEEN, Netherlands (13 July 2000)--Accell Group, Europe's third largest bicycle group, increased its turnover 32.5% in the first half of 2000 to EUR119.8 million. Profit in the first half of the year came to EUR1.8 million . "The move of demand from cheaper import bicycles to higher quality bicycles has continued in the past six months," states the report. "Demand for city and trekking bicycles has developed particularly well. This trend is expected to continue in the second half of 2000." The release also says that the Sparta brand acquired last year has made an immediate contribution to the earnings per share, particularly due to its strong presence in the folding and electric bike segments. Accell is also expanding the production facilities of its high-end brand Koga. The expansion will be completed at the end of this year. (JW)
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