Raleigh stages a Seventies-style rally

BIKE maker Raleigh may be a pale shadow of the giant that once dominated the British cycle industry. But the Nottingham firm is pedalling its way back to financial security thanks to a 'resurgent interest' in a restyled 1970s design classic - the Chopper.

The group - which was making a loss at the time of its 2001 management buyout - almost tripled underlying profits from £2m to £5.6m in the 12 months to September 2004.

Raleigh sold 30,000 Choppers last year, which means the cult bike accounts for about 8% of the company's worldwide sales.

Building on the retro theme, it has launched an updated version of the Tomahawk, the Chopper's smaller brother.

UK managing director Mark Gouldthorp doubts whether Raleigh's 1970s revival will continue beyond 2005, but says it has provided the group with a massive public relations coup.

Gouldthorp said: 'The Chopper's primary objective was to signal a revival of the company...though the PR interest has even taken us by surprise.'