Wiggle EBITDA increased 2.1% to £14m in the year to February 3 after investing in its range, website, distribution, IT and marketing.
Turnover at Wiggle surged 20.8% to £140.8m. Within that, UK sales were up 20%, “allowing us to maintain our position as the leading internet cycle and triathlon retailer in the country”, said Wiggle chairman Andy Bond. “This was achieved by investing in our range, improving our website and enhancing distribution, IT and marketing.”
Sales overseas also rose 20%. Bond said Wiggle’s key markets for growth remain Europe, Australasia and the Far East.
“Our reach is broadening as we localise our offer through localised web domains, translated content, simplified local payment methods and faster delivery times.”
However, Bond reported that growth in Japan “slowed significantly as the impact of the depreciation of the Yen was felt”.
Wiggle said current trading remains “strong, with the business posting a faster growth rate in the year to date compared with 2012”.
“The company is enjoying continued high growth in the UK where it remains the strongest player in the enthusiast bike, run and triathlon market. It also continues to expand internationally, seeing a positive return from its ongoing investment in infrastructure and customer experience,” Wiggle said.
Bond added: “2012 was a good year for Wiggle. We increased our turnover by over 20%, increased cash margin by over 15% and continued to invest in the build-out of our international operations.”
Over the 12 months, Wiggle received more than 70 million shopper visits to its site, dispatched more than 2 million orders and sent out about 150 million email communications to customers.
Wiggle said it is “constantly seeking new ways to grow further and to re-invest in the industry”, and has created a network of “worldwide cycling and triathlon events”.
In the past 12 months, Wiggle has organised or sponsored 96 events. In 2013, Wiggle became the title sponsor of UCI ladies professional cycling team, Wiggle Honda.