Triumph back in the red

THE troubled Triumph motorcycle firm continues to be dogged by bad fortune.

Two decades ago it was in the hands of liquidators and in March 2002 its factory in Leicestershire was destroyed by fire.

Despite the success of its Daytona machine, launching three models last year and being named British Brand of the Year by The Walpole British Excellence Awards, Triumph's problems are not over. The company has again plunged into the red.

Its latest annual results show a pre-tax loss of £665,000 in the year to June 30, down from a profit of £4.1m the previous year despite a higher turnover, up from £102m to £115m. A small operating profit was wiped out by hefty interest payments. The directors waived their salaries.

Triumph was rescued in 1983 by John Bloor, the son of a Derbyshire miner and a keen biker. It is now part of Bloor Holdings, which also owns housebuilder Bloor Homes and Pickerings Plant hire group.

Bloor Holdings recorded a £64.3m pre-tax profit on a turnover of £470m in the year ending June 30, 2004. The housebuilding arm alone recorded a profit before interest and tax of £67.4m.

As the highest-paid director, Bloor earned £1.2m last year and is estimated to be worth £260m.