Derby Cycle, which trades under the Kalkhoff, Raleigh, Rixe, Focus and Univega brand names, has reported a 31.5 percent increase in net income to €7.9 million for the first half of its financial year, ended on March 31. Operating profit rose by 25.1 percent to €13.1 million on a 17.3 percent increase in consolidated sales to €134.2 million. The number of bicycles delivered by the group increased by 3.4 percent to 252,248, largely due to 36.7 percent higher sales of 53,190 electric bicycles and to higher sales of sports bikes. This will probably be the last financial report by Derby, the largest bike producer in Germany, which represents about two-thirds of its total sales. Earlier this week, Pon Holdings said that it had obtained 95 percent of Derby's shares and was thus proceeding with the squeeze-out of the remaining shares trading on the Frankfurt stock exchange at the same price.

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