Caravan manufacturer drives off with £252m sales

Motorhome and caravan manufacturer Swift Acquisitions, part of the Swift Group, has seen revenues rise 19%, to £252m.

The company, based in Cottingham, East Yorkshire, also reported record operating profits of £17.5m for the year to August 2016, double that of the previous year.

Full accounts have not yet landed on Companies House, but Swift said the rise was due to “very positive” market conditions, and investment on the manufacturing process – spending £4.9m during the year on improvements.

It said a “significant sum” of capital investment was also planned for the coming year.

Swift said that shortly after the August 2016 year end, the company became debt free, clearing the debt taken on in 2012 to “strategically grow the business.”

James Turner, Swift managing director, said: “The directors are extremely pleased at the growth in our business. Significant investments in capital equipment, training, education and technology have been made which further enhance the total Swift offering.

“We are well positioned to take advantage of future opportunities and challenges in what is currently a buoyant market.

“Our financial strength provides security in an uncertain world and also great scope to continue investing and innovating, increasing confidence for retail customers, dealers, suppliers, and employees, and reinforcing Swift’s leadership of the UK market.”

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