MAJOR RV player Apollo Tourism and Leisure has told
shareholders it is pleased with its performance during the last
It makes the comment in its annual report to
investors, which came as the Brisbane-based
global company's shares took a pounding on the stock market
to reach their lowest level for a year.
Since its humble beginnings in 1985 renting out just one pop-top caravan
from a shed in the city's north, Apollo has grown into a multi-national
company focused on manufacturing, renting, selling and distributing a
range of RVs including motorhomes, campervans and caravans.
It operates in Australia, New Zealand, Canada, the USA, Britain and
Ireland. And there are plans to hit new countries this year.
The report said Apollo's revenue for the year ending June 30 was $355
million, representing a 122 percent rise on the previous year and
returning an after-tax net profit of $19 million.
Shareholders were assured the outlook was positive, with increased rental
bookings for the year ending June 2019.
includes plans for three new retail sales outlets
Apollo said growth initiatives planned for the current financial year
included new retail sales locations in Adelaide, Geelong and Newcastle.
Its newly acquired Coromal and Windsor brands from Fleetwood would begin
production at its factory in Brisbane while new "flagship" rental and
retail premises would be established in Auckland, New Zealand.
Apollo also planned to open two new American rental branches in time for
the 2019 summer peak season, with another in Hamburg, Germany, for the
onset of the European summer peak period.
The report said Apollo's directors expected "solid growth" in net profit
for the current year from acquisitions, expansion into new markets and
technological initiatives that would bring operational
Apollo predicted that after-tax net profit for the year would be in the
range of $22 million to $24 million.
"The operational and financial performance of the business, and its future
growth, would not be possible without the contributions of the hundreds of
people who work for Apollo around the world," the report said.
"We are grateful to our staff and leadership team for the roles they play
in providing Apollo's guests with new self-drive experiences in Australia,
New Zealand, North America, the United Kingdom and Ireland.
"They all play an important role in making Apollo the global RV solution."