Apollo quadruples profit off the back of strategic acquisitions

Apollo quadruples profit off the back of strategic acquisitions

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.

 


CLICK HERE TO BOOK TICKETS


 

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.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

GreenFort, Gaw Capital join forces on $800m joint venture

GreenFort, Gaw Capital join forces on $800m joint venture

Brisbane-based alternative real estate fund manager GreenFort Capit...

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Virtual IT Group (VITG), a Wollongong-based managed service provide...

Booktopia extends share trading suspension as critical funding announcement looms

Booktopia extends share trading suspension as critical funding announcement looms

Just as so many Booktopia (ASX: BKG) customers had to wait longer t...

Seafarms sells two farms to Barramundi group MainStream for $13.5m to fund prawn mega-project

Seafarms sells two farms to Barramundi group MainStream for $13.5m to fund prawn mega-project

Darwin-headquartered prawn producer Seafarms (ASX: SFG) is selling ...