Accell Group is looking towards 2010 with an optimistic eye. In the companys annual shareholders meeting, the group announced its forecast for increased turnover and profit gains for the remainder of the fiscal year.
The company attributes the optimism to sustained interest in recreation, mobility, health and the environment which will continue to encourage consumers to purchase bicycles. Accordingly, Accell Group confirmed in a statement that it would be maintaining its previous outlook and carrying that through 2010. We maintain our expectation that for the full year 2010, turnover and results will increase, barring unforeseen circumstances, said Ren Takens, Chairman of the Board of Directors of Accell Group.
“After a relatively long winter, we saw bicycle sales picking up again as from the middle of March. Turnover is currently at the same level as last year. The bicycle is popular and the consumer likes to invest in a product that brings joy, is healthy and offers easy and affordable mobility, particularly in urban areas, said Takens.
Takens went on to discuss the market upswing compared to this time year ago. The turnover of our fitness products have risen compared to last year. Therefore, we appear to have seen the worst for this segment.
More specifically, considerable amounts of interest amounted for electric and sports bicycles. The trends that we saw in the bicycle segment in the last few years are continuing to follow suit with what has been happening in the market.
