Triumph Motorcycles Group’s sales and profits have hit the skids as the eurozone crisis impacted its markets.
The historic motorcycle manufacturer had established itself as an industrial success story for the UK despite competing against giant multinational rivals such as BMW (Xetra: 519000 - news) and Honda.
Triumph, founded in 1902, is famous for producing motorcycles such as the Thunderbird, which was used by Marlon Brando in films, as well as the Daytona 675 and Speed Triple.
The company is now Britain’s largest motorcycle maker and is based in Hinckley, Leicestershire. Triumph, which employs 1,600 people, is chaired by Lord Jones, the former trade minister, and owned by British tycoon John Bloor.
In the 12 months to June 30, Triumph recorded sales of £342.3m, a drop of £3m compared with the previous year.
The company said operating profit before interest and tax fell from £22.3m to £15.7m.
Triumph, which sold 49,000 motor-cycles in the year, suffered the decline in profits as consumers pulled back from major purchases because of uncertainty caused by the eurozone debt crisis.
Triumph has also invested in setting up a new manufacturing facility in
Brazil as the brand expands into emerging markets. It already produces motorcycles in Thailand as well as Leicestershire
Spending on research and development increased from £22m to £24m over the period.
In 2013, Triumph plans to launch new motorcycles including the Street Triple , which the company describes as “a class-leading touring motorcycle”, and the Street Triple R.