Net profit after tax more than doubled for Australian-based rental firm Apollo Tourism & Leisure in FY18, fueled by overseas and domestic acquisitions coming into the fold along with increased demand buoyed by higher international visitor numbers across key markets.
Business News Australia reported that net profit rose 122% to $19.2 million for the year, and the company expects the result to be higher still in FY19 in a range of $22-$24 million.
Retail sales for new RVs more than tripled (235%) to reach $138.6 million, bolstered by the full year inclusion of Sydney RV and Kratzmann Caravans.
The group has also positioned itself for further growth at home after picking up Fleetwood RV brands in June, along with plans to open new retail sales locations this year in Adelaide, Geelong and Newcastle.
But while Apollo’s Australian operations notched 57% EBIT growth for the period, the market now represents just under half of the company’s total earnings.
This goes to show just how far Apollo has ventured in its global journey. Australian EBIT in FY18 was higher than the entire group EBIT in FY17, yet the majority of earnings came from overseas.
The jewel in the crown is most certainly North America where Apollo completed the acquisition of CanaDream in July last year. The group has described this as a “significant step” in its journey to become a global RV solution.
“North America represents the largest RV sales and rentals market in the world and the addition of CanaDream to the Apollo Group has provided a tremendous boost to the company’s presence in the region,” says Apollo CEO Luke Trouchet.
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