Brompton profits plunge more than 99% amid bike industry turmoil

Boss of bicycle maker says discounting after Covid boom means sad state of affairs' in global market is likely to go on

The boss of Brompton Bicycle has predicted that 2025 will be another year of turmoil for the bike industry after profits at the British folding bicycle maker dived by more than 99% amid a wave of discounting by rivals.

Profits fell from 10.7m to 4,602 in the year to the end of March 2024 - less than the cost of Brompton's top-of-the-range T Line Explore bike - as riders sought cheaper options during a cost of living squeeze.