Cycling is estimated to see strong trading throughout the year as many people are forecast to turn to commuter bikes and take advantage of the government's voucher repair scheme.
The retailer said the second half of the year will see better profits and modelled three scenarios: the first will see an underlying loss before tax of £0-10mln, the second and third profits of £0-10mln and £10-20mln respectively.
They are based on forecasts of revenue dropping 9.5%, 7.5% and 5% respectively.
The FTSE 250-listed firm has been focusing on improving margins for the cycling business, which is more capital-intensive than motoring.
Group sales for the 13 weeks to July 3 were 6.5Read More – Source