Triumph shifts down a gear as bike sales dip and currency woes bite

Triumph Motorcycles, the iconic British motorcycles maker, failed to rev up last year after suffering a rare drop in sales.

The number sold for the year ending June 30 fell to 61,505 from 63,404, the first sales decline for eight years, accounts show.

The company’s parent group, Bloor Investments, said sales have grown on average more than 3% each year over the past five years.

Classic brands like the Bonneville Scrambler 1200 start from £11,500 while adventure models like the Street Triple roadsters cost from £8100.

Total turnover from sales of the bikes, made famous by Hollywood icons like Marlon Brando, Steve McQueen and Paul Newman, increased to £502.7 million from £498.6 million but the division’s profits were hit by foreign exchange losses.

“With over 85% of our global sales in non-sterling currencies and a significant amount of our purchases also in foreign currencies, FX has a major impact on our business,” a spokesman said.

“Selling in markets like the USA, manufacturing in Thailand and assembling in Brazil means we need to hold significant bike and component stock in those currencies.”

Triumph, founded in 1902 and based in Hinckley, Leicestershire, is owned by John Bloor, the millionaire housebuilder.

Bloor’s holding company, Bloor Investments, did well overall and the multi-millionaire took a £6 million dividend, down from £7 million in 2017.

Turnover rose to £1.5 billion from £1.44 billion and pre-tax profits increased to £187.8 million from £184.9 million.