A BICYCLE firm has been named as one of the country’s fastest growing exporters.

Merlin Cycles ships road and mountain bikes to cyclists in more than 50 countries.

Published this weekend, the Chorley-based company is included in the third annual Sunday Times Lloyds SME Export Track 100 league table ranks Britain’s small and medium-sized (SME) companies with the fastest-growing international sales.

It is one of only two Lancashire based firms listed, the other being Hangerworld in Blackpool.

The nine companies headquartered in the North West of England include six new entrants to the league table.

The firm’s international sales have grown by an average of 52 per cent a year over the last two years to a total of £71m, and together they now employ almost 900 people.

Merlin Cycles is listed at number 98 and has a retail centre in Buckshaw Village.

Demand in the US helped exports hit £8.2m in 2015.

The latest research illustrates how closely connected Britain’s export drive is with its trading partners across both the Atlantic and the English Channel.

A total of 85 of the companies sell to the continent, making it the most popular market, followed by North America with 77.

Gareth Oakley, managing director SME banking at Lloyds Banking Group, the title sponsor, said: “For businesses that take the leap to trade overseas, the rewards can be significant.

“The strong growth achieved by this year’s SME Export Track 100 is proof of that.

"At Lloyds Banking Group we are committed to helping businesses scale-up and trade internationally, and have pledged to help 5,000 first-time exporters every year until 2020 in support of this.

"Our International Trade Portal is a valuable source of insight for any businesses looking to explore overseas options”.

International trade secretary Liam Fox said: “Companies are seizing the huge international demand for innovative UK products and services.

“We want more businesses to take advantage of this global opportunity."