By
Dennis Amor
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APOLLO Tourism and
Leisure has survived a "challenging year" of subdued RV sales, the global
company reports.
The Brisbane-based manufacturer of the Windsor and
Coromal range of caravans has revealed its
financial results for the last financial year ending on June 30,
which show an underlying net after-tax profit of $14.7 million.
This was achieved on the back of a record revenue of $365 million over the
previous financial year.
|
Apollo's annual report to
shareholders published this week blames soft RV sales globally
for its disappointing results but points
out its core business of RV rentals showed strong growth, with all
regions achieving record rental bookings and revenues. "Apollo is
now a truly global business and we will continue to persue
opportunities to improve earnings growth and drive shareholder value,"
it said. |
Chief executive Luke Trouchet described the
results as "disappointing" but stressed that the
health of his company ‒
founded in a humble backyard shed in the Queensland capital in 1985
‒ remains strong.
"Subdued retail sales conditions in the second half of the year presented
the company with a number of challenges globally, which contributed to the
decline in earnings year on year," he said.
Acquiring the Windsor and Coromal caravan brands had been "an important
addition" to Apollo's retail offering.
"This action brings consolidation to a fragmented Australian caravan
industry and increases the product mix and market reach of the company's
retail sales network," Mr Trouchet said.
His company had made a "solid start" to the new financial year, with RV
sales and rentals remaining strong.
This was despite "ongoing headwinds" from geopolitical issues such as
Brexit, China-USA trade tensions and the uncertainty created by the unrest
in Hong Kong.
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Dennis Amor
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