Apollo quadruples profit off the back of strategic acquisitions
Written on the 26 February 2018 by David Simmons
Apollo Tourism & Leisure Ltd (ASX: ATL) has posted a $16 million first-half profit, more than quadrupling its result from the prior corresponding period.
For the past few months, Apollo has focused squarely on acquisitions and the effective integration of new business, developments that have paid off in a major way.
The retail dealership acquisitions of Sydney RV, Kratzmann Caravans and George Day Caravans are part of Apollo's plans to grow the retail business through an Australia wide network of retail sales centres.
Apollo hopes these latest acquisitions will leverage the company's Winnebago, Adria, Talvor and used ex-fleet brands.
Apollo's retail dealerships have performed to the company's expectations in H1 FY18 and are expected to continue to perform in the second half of FY18.
The group's manufacturing facility in Brisbane moved to its new 12 acre site, with new capital equipment purchased to assist with creating further efficiencies and streamlining processes.
Apollo is led by managing director Luke Trouchet, who helped turn the company from a family-run business into an ASX listed success story.
Trouchet is set to share his journey this Friday morning at the Business News Australia breakfast series at Customs House in Brisbane.
The directors of Apollo have declared a fully franked interim dividend of 2 cents per share, which will be paid on 14 March 2018.
Shares in Apollo are up 3.95 per cent to $1.98 per share at 12.50pm AEDT.
Business News Australia
Author: David Simmons