Tuesday, 2 November 2010
Caravan sector recovery continues
Discover Leisure plc produced an operating profit in each of the six months to August 2010, with a strong sales performance assisted by a rise in demand for leisure vehicles, particularly touring caravans.
Posting its first full year trading results since it underwent a major restructuring, the group posted gross profits of £7.49million - up from £6.29m the previous year.
David Morrow, chairman of Discover, stated that the improved results were attributable to a range of factors stating: " Our supplier relationships are strong and the group has reduced operational losses.
"Net debt is also down significantly following the successful completion of the sales of six of our seven surplus properties.
"An improved industry outlook, with the rate of decline in UK market for leisure vehicles slowing and turning positive in some sectors, for example the tourer market, bodes well for the Group's continued recovery."
The upturn in the touring caravan sector was also recently identified by Swift caravans and so it the outlook is positive for this part of te leisure sector.