Category: Bromptons
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Folding bike pioneer Flit raises £1.2m to challenge Brompton’s dominance
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An emerging company based in Cambridge, which designs and manufacturing folding electric bicycles, received 1.2 million pounds from the new investment, with the aim of increasing production in an attempt by the pioneer of the market. “The demand for his models is far exceeding the current offer, as customers face…
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Brompton’s profit plunges to less than the price of a single high-end bike
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Brompton Bicycle has warned of another difficult year ahead after its pre-tax profits fell to just £4,602 in the 12 months to the end of March – a stunning fall from the £10.7m it made the previous year. The company now finds itself recording a gross profit below the retail…