Insider Media Limited

Turnover at Derbyshire-based Bloor Holdings has passed the £650m mark thanks to the continued strong performance of Triumph Motorcycles. Pre-tax profit is up 16 per cent at the group, which is owned by businessman John Bloor, who just missed out on a top ten place in the latest Midlands Business Insider Rich List.

Bloor Holdings, which owns Measham-based Bloor Homes and Hinckley-based Triumph Motorcycles, increased turnover to £655.1m for the year ended 30 June 2011, up from £631.4m in the previous 12 months.

Pre-tax profit jumped to £22.8m, compared with £19.6m in 2010, at the group, which employs more than 2,000 staff.

Motorcycle manufacturer Triumph accounted for £345.3m of the group's sales, an 11 per rise from the previous year.

It sold 48,684 motorbikes in 2011, up from 45,501, which the company attributed to the introduction of "incremental" models to the range.

The performance was despite another difficult 12 months for the global motorcycle industry, which for bikes bigger than 500c was down almost 50 per cent from its peak four years ago – and 7 per cent in the last year.

"Triumph's sales performance was particularly strong in the UK, Italy and Germany," the directors said in the accounts.

"Triumph retail registrations in the UK increased 6 per cent in a market that decreased 15 per cent, giving the business a 19 per cent market share and the market-leading position."

The company is set to enter two new markets this year in Brazil and India. More than 80 per cent of its motorcycles are sold in overseas countries.

Turnover from Bloor's housebuilding division Bloor Homes was down from £312m to £300.9m. It built 1,755 homes in the year, down from 1,813 12 months earlier.

The company said it was "well placed" to address the issues of a difficult trading atmosphere which is previously unseen in the industry.

Operating profit for the year at Bloor Homes was £12.2m, compared with £16m in 2010.

Bloor Holdings has bounced back from making a pre-tax loss of almost £50m for the year ended 30 June 2008 which was caused by exceptional items of £65m as house prices began to fall.

At 30 June 2011, the group had a total net debt of £90.9m, down from £111.5m in 2010 and £250.5m in 2008.

The decreased debt is a result of "reductions in land purchases, operating cash generated from trading and reduced investment in tangible fixed assets, primarily for the Triumph business".

Bloor renegotiated its banking facilities after the year end. The majority of facilities, which are on a secured basis, are committed for a period to 30 September 2015 and are subject to covenants, which are reported on a quarterly basis.

"The current year to date has continued to be difficult but the group's businesses are well placed to benefit from the opportunities for growth which will arise as the economy recovers," the company said in its accounts. "The group's focus on its markets, costs and cash generation will continue."