Triumph Motorcycles announces another record-setting year.
In a year when many motorcycle manufacturers are reporting stagnant or slumping sales, Triumph Motorcycles nearly doubled its profits in 2016.
The UK's largest motorcycle manufacturer posted an increase in profits from £8.7 million (about US $10.6 million) to £16.6 million ($20.3 million) in 2016, with bike sales increasing 4.5 percent, from 53,812 to 56,253.
The English firm attributes some of its success to investments from previous years, which it says have started to pay off. Triumph has invested heavily in manufacturing, helping to produce its more profitable new Bonneville range. Triumph has also invested heavily in an international sales network, particularly in Thailand.
Its proportion of motorcycles sold abroad increased nearly one percentage point, from 84.4 percent to 85.3 percent, and turnover increased from £351.3 million ($429.7 million) to £407.6 million ($499 million).
A spokesman said: “Triumph has performed strongly against a backdrop of challenging currency, economic and motorcycle market conditions. Triumph has a long-term vision which requires ongoing investment in people, facilities, and great product.”