Housing tycoon John Bloor nets £6m dividend from Triumph motorcycles
Housing tycoon John Bloor has paid himself a £6million dividend despite a drop in sales at his motorcycle business Triumph.
The billionaire rescued the company from bankruptcy in the 1980s and it has gone on to become a British manufacturing success.
But accounts show the firm, part of Bloor Investments, posted a 60 per cent fall in profits for the year to June 30.
Bloor has paid himself a £6million dividend despite a drop in sales at his motorcycle business Triumph
At the same time, Bloor Investments paid a £6million dividend to sole shareholder Bloor, 74, who is estimated to be worth £1.8billion.
Profits at the group, which includes housebuilder Bloor Homes, were nearly £188million.
However Triumph, which has provided bikes for actors Steve McQueen and Marlon Brando, sells 85 per cent of its bikes abroad and said margins had been hit by unfavourable exchange rates.
Profits fell to £9million in the year to June 30, 2018, compared to £24.7million in the previous 12 months.
The number of bikes it sold also dropped, from 63,400 to 61,500.
The Leicestershire-based firm, founded in 1902, employs nearly 2,400 people.