Revvin’ up: Triumph splashes out on R&D

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Triumph, the iconic British motorcycle maker, has continued to pump record amounts into research and development despite sales hitting a flat spot.

The firm said profits had been impacted by costs linked to the setting-up of a Brazilian manufacturing and sales operation.

The group booked an annual operating profit before interest and tax of £15.7 million, down from £22.3m a year earlier.

Group turnover was down fractionally at £342.3m, with the European market described as “an area of concern due to the current economic situation”.

Despite that, R&D, including product development, within the Triumph group is continuing at record levels. Expenditure for 2012 was £24m, up from £22m the year before.

The firm, which was founded in 1902, said market share had been maintained during the past 12 months with a 5.7 per cent slice of the 500cc-plus sector.