Wiggle chairman Andy Bond said the bikes etailer will up its game in order to take full advantage of the growing popularity of cycling as the UK prepares to play host to the Tour de France for the first time in six years.

Bond said that despite the etailer’s strong performance – it this week revealed a 2.1% increase in EBITDA to £14m in the year to February 3 – it cannot be complacent.

“We’ve got to up our game” said Bond. “We will continue the momentum of the business by improving our service, enhancing the product range and improving prices.

“The Tour De France is coming to the UK and it is another opportunity to increase people’s enjoyment of cycling. What a great opportunity for people to say ‘I’ll buy a bike’.”

In recent weeks, Wiggle launched next day delivery in Europe in a bid to improve service.

Bond said Wiggle had benefited in the year from a huge spike in interest in cycling popularity, which was boosted by the Olympics and Tour De France successes last summer. He added Wiggle was alos benefitted from the general trend towards online shopping.

Turnover at Wiggle surged 20.8% to £140.8m in its full year and Bond said there are “still a lot of opportunities for growth”, as it looks to further expand in its current overseas markets and aims to launch into others, although Bond wouldn’t disclose which ones.

Wiggle said current trading remains “strong, with the business posting a faster growth rate in the year to date compared with 2012”.

UK sales in the year were up 20%. “This was achieved by investing in our range, improving our website and enhancing distribution, IT and marketing,” said Bond.

Overseas revenue 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,” he said.

However, Bond reported that growth in Japan “slowed significantly as the impact of the depreciation of the Yen was felt”.

He told Retail Week: “As a global business there will always be strengths and weaknesses.”

Wiggle added: “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.”

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