99 Bikes says global snags hit imports

Original article by Liam Walsh
The Australian Financial Review – Page: Online : 4-Jan-21

Matt Turner says that delivery times for importing bicycles from China is now double what it would be normally be. Turner is the CEO of Pedal Group, the company behind the 99 Bikes retail brand, with the surge in delivery times a combination of increased global demand for bikes and logistical issues. Turner’s comments come as Pedal Group reported a 51 per cent revenue jump to $199.9 million for the 2020 financial year, with post-tax profits up from $3.4 million to $12.4 million.

CORPORATES
PEDAL GROUP PTY LTD, 99 BIKES PTY LTD

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