PROFITS at online retailer Chain Reaction Cycles dipped slightly last year to £3.77 million from £3.99m in 2013.
The Ballyclare firm - which started as Ballynure Cycles in 1984 - has risen to become the world's largest online bike store in recent years.
Annual accounts for the year to December 31 2014 filed at Companies House in Belfast showed turnover rose by 5.9 per cent to £153.37m.
Directors said the increase was principally due to a "a greater volume of transactions".
Around two-thirds of spend comes from Europe with the rest from across the globe.
"Sales gains were recorded in most core markets, despite challenging economic conditions," they said.
"Gross margins have been maintained at 34 per cent, however the group incurred substantial additional overheads which has had a detrimental impact on operative profits in the current year."
They said the company had invested heavily in research and development and said they expect to "build on this via continued investment in a unique and innovative e-commerce platform, designed to enhance functionality and all aspects of the buying experience".
The company trimmed its wage bill to £14.1m with the payroll being cut to 540 people from 612 in 2013.
Directors remuneration reached £1.2m with the highest paid receiving £301,000.
The company was founded by George and Janice Watson, and continues to be family run.
Dividends totalling £1.5m were paid for the year - the same as in 2013.
George and Janice Watson set up the company with a bank loan of £1,500.
Within five years, they rebranded the firm Chain Reaction Cycles and in 1998 changed the focus to mail order.
The online offering was launched in 2000 and from there the firm really took off.
To satisfy demand, the company opened their own 50,000 sq ft warehouse in 2005 and followed this up with a 10,000 sq ft flagship retail premises in Belfast in 2011.
