The Brisbane-based company has enjoyed a spike in sales since COVID-19 restrictions were eased as people looked for new ways to enjoy leisure time.

The company’s shares jumped 19 per cent today to $2.39, having climbed back from a low of 58 cents in March when the lockdowns started.

Managing director David Ahmet said the company was “travelling quite well” despite the impact of lockdowns in Victoria where six of stores were shut for several months.

He said government stimulus had been a benefit, including JobKeeper which it no longer qualifies for.

Earlier in the year, Ahmet said buyers were using their access to superannuation to fund bike purchases.

“I think the superannuation influence has worn away now,” he said.

“Really it’s just a robust market and we cut costs some time ago. We have been aggressive with our overheads. The market is robust and our margins are good so if anything it’s a little harder to obtain retail finance than it was in the past.

“I think market share is about the same as it was before. I don’t think it has improved out of sight.

“The industry on a whole is doing very well. It seems to be just as strong now as it was previously.”

He said the first half underlying earnings before interest, tax, depreciation and amortisation (EBITDA) would be more than $20 million, compared with $9.9 million in the previous year.

Diviends are likely to be re-introduced with a policy of paying out 50 to 70 per cent of net profit after tax.