Fleetwood cashes in on domestic holiday trend
Holidaying at home boom boosts bottom line for RV accessories supplierPerth-based Fleetwood Australia is another beneficiary of COVID-19 international travel restrictions, reporting "very strong sales" for its RV Solutions division for the last three months of 2020.
The Perth-based public company told shareholders that revenue for the second half of 2020 from its RV division including accessories retailer Camec and Melbourne-based caravan services supplier Northern RV, was $31.2 million, down from $35.6 million for the same period in 2019, with before-tax profit increasing to $3.7 million -- up from $2.5 million.
“Despite being forced to shut down for a period and having to rely on JobKeeper support to maintain the workforce, RV Solutions has more recently been a beneficiary of pandemic-forced international travel restrictions," Fleetwood's CFO and interim CEO Andrew Wackett said.
"October, November and December delivered very strong sales and pleasingly that trend has continued as Australians embrace domestic travel.”
Fleetwood said it was able to maintain staffing levels during the two month Victorian lockdown thanks to $3million Jobkeeper government payments.
The Perth-based company said its future plans include expanding its range of aftermarket accessories, as well as introducing a range of "new caravan walling products" in order to "commercialise intellectual property retained by Fleetwood from the former caravan manufacturing business".
Fleetwood was rolling out full fibreglass sandwich panel caravan construction at its Perth production facility, before it sold its Windsor and Coromal caravan brands to Apollo in 2018.
Related:
Apollo rides caravan retail boom
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