Specialist mountain sport retailer Snow + Rock reported a 13% drop in profits last year blaming poor snow in the Alps for the decline.
According to the Sunday Times, earnings before tax, depreciation and amortisation dropped from £8.6m a year ago to £7.5m. Turnover for the year rose 14% to £65m.
The retailer, which was bought by private equity company LGV Capital in 2010, acquired jogging specialist Runners Need two years ago in an attempt to reduce its dependence on the ski season.
Finance director Hamish Mansbridge said: “Snow is still the core of the business, but most of the growth will come from cycling and running. People are much more inclined to hit the streets as gyms have become expensive.”
Mansbridge said thinner margins on cycling and running garments had also hit profits last year.
The group has 42 stores across its Snow + Rock, Runners Need and Cycle Surgery brands.