Triumph riding high with promising profits through 2019
Triumph have recorded increased profits in 2019, despite the uncertainty still surrounding Brexit.
Revenue and pre-tax profits at Triumph increased in the 12 months up to the end of June, 2019. Revenue was £529.5m, up £26.8m, and pre-tax profits came in at £9.5m; a rise of £500,000 year on year.
Triumph added that it achieved the growth “in the face of continuing challenging economic and currency conditions, including the atmosphere of uncertainty caused by the Brexit negotiations”.
The manufacturer also said that it has continued to invest in research and development of new products, increasing expenditure by 20.6 per cent from £36m in 2018 to £43.4m in the 2019 financial year. It has just revealed a new range of bikes for 2020, including the vastly improved Tiger 900 models and Rocket 3.
A statement said: “Triumph is excited about the future and is committed to delivering its long-term vision through investment in the company’s people, products and facilities including an exciting project to develop an electric powertrain in partnership with Williams Advanced Engineering, Integral Powertrain Ltd, and WMG, at the University of Warwick.”
The Hinckley-bases firm is known to be looking at electric tech, has had a year of success with engine supply in the Moto2 race series and is about to get global exposure for the Tiger 900 and Scrambler 1200 in the soon-to-be-released James Bond film, No Time to Die, where the bikes are used in various action scenes.