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News for October 24, 2021

Australia Manufacturer Sticks With Camping and RV Accessories Sale As Profit Jumps

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After a record-breaking demand from domestic holidaymakers during COVID-19, Fleetwood will continue to operate its caravan and camping accessories business.

The WA-founded group had initially considered selling the RV Solutions division but advised today that Fleetwood would continue to be a part of its portfolio.

RV Solutions manufactures and distributes products such as camping cookers, toilets, awnings, and towing equipment.

It has done a strong trade in the pandemic, just like other businesses that provide driving holidays in Australia. On a 15% increase in revenue to $72.4m, profit before interest, tax, depreciation, amortization, doubled to $7.8million for the year ended June 30.

Fleetwood stated that the results would have been better by difficulties in sourcing and delivering the products and securing labor during the pandemic.

The 17% increase in net profit for the group was due to a 9 percent revenue gain of $360.1m.

Fleetwood’s modular construction company, which produces affordable housing, offices, and accommodation on mine sites, accounted for $249.1 million of the lion’s share.

The two accommodation villages in Karratha and Port Hedland that cater to the fly-in/fly-out market made the most profit.

Fleetwood, despite the strong 2020-21, has begun the new financial year in a cloud. The group warned that its construction and RV solutions businesses were being affected by the NSW shutdowns, and was threatening new restrictions.

After being pressured by investors, Fleetwood will pay a final dividend in the amount of 10.5C/a share.

Its shares dropped 2C/ to $2.65

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Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
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