SEPTEMBER 2021

Good trading conditions save division

Fleetwood holds on to RV Solutions

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FLEETWOOD is holding on to its RV Solutions business after COVID-inspired strong demand for its products, it has been revealed.

The division operates RV accessories company Northern Camec and the Melbourne-based caravan repairs and services company Northern RV.

It had been rumoured it was in danger of being offloaded but Fleewood's newly-released annual report has put paid to that.

It said RV Solutions ended the financial year with EBIT of $7.8 million on revenue of $72.4 million, with good trading conditions after COVID lockdowns.

Non-executive chairman John Klepec (pictured) said it was expected to continue benefiting from "strong demand" on the back of international border closures.

"Increasing local travel and opportunities for production of new products in Australia have emerged," he said

Camec's retail stores had experienced a "significant increase" in customers, with higher sales of second hand caravans creating strong demand for parts, accessories, repairs and renovation requirements through Northern RV.

The report warned that RV Solutions' businesses had been hurt by NSW shutdowns and the threat of new restrictions elsewhere.

But it added: "The medium-term outlook for RV Solutions remains strong given uncertainties around international travel.

"There is also an expectations that even with a reopening of borders, there may be an ongoing reluctance by Australians to travel overseas.

"Challenges are evident, however, with product sourcing, freight and skilled labour impinging on even stronger growth."

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