The company registered a pre-tax profit of £42.7 million in
the year, compared to £54.8 million this time last year. Jo Hartley, Halford’s
CFO, said, “In cycling, whilst we grew market share, the market itself was very
challenging, with market volumes declining 4%. Cycling market volumes, as
reported by the
Bicycle
Association, are now c.30% below pre-covid levels.”
Whilst there may not be a direct link between the
professional struggles and declining casual cycling interest, it is strange
that the two are happening at the same time. After all, following on from the
success of the British track cyclists at the London 2012 Olympics, the country
enjoyed an excellent period where they dominated racing on the road, with the
likes of
Chris Froome, Mark Cavendish and Geraint Thomas. British cycling will
be hoping this isn’t a trend that continues any further.