Holiday homes giant Willerby has delivered record turnover and profits, buoyed by the continued popularity of 海角视频 holidays and short breaks
The Hull-based market leader has posted revenues above 拢200 million for the first time in the company鈥檚 77-year history, as it continues to capitalise on a buoyant staycation market.
In the year to October 2022, it recorded a 67 per cent uplift in sales from 拢129.9 million to 拢217 million, with operating profits rocketing from 拢3m to 拢15.1 million - a fourfold increase. And the success will filter down to the 1,150-strong workforce, with a 鈥渘ew and improved staff bonus scheme鈥 introduced during the year, with every member benefiting.
Read more: Ebuyer bought: Healey family's West Retail Group sells 拢241m turnover online technology business
Willerby pumps 拢35 million into the local economy in wages alone, at the real living wage or above, as it builds a third of all new static caravans and lodges destined for holiday parks. Willerby Bespoke, its residential park homes business that launched in 2018, has also become a profit contributor to the business.
Chief executive Peter Munk said: 鈥淭here鈥檚 no doubt there has been a structural change in the market since Covid, which we believe will benefit our business and industry over the long term.
鈥淭he 海角视频 has some of the world鈥檚 most stunning locations, currently being showcased to millions of people in Sir David Attenborough鈥檚 beautiful BBC series Wild Isles. The appeal of the British countryside and coast has never been greater.
鈥淲e鈥檝e also seen very significant institutional investment into the staycation market, especially in the holiday parks sector, and in upgrading facilities at sites across the country.
鈥淭hat has all fed through to a sustained surge in holiday home ownership and bookings at holiday parks which has, in turn, generated very strong demand for our static caravans, lodges and residential park homes.
鈥淥ur order book is very strong and we鈥檙e now setting out detailed production plans for 2024, to meet the robust demand for our models.
鈥淒espite the unprecedented challenges we have faced in recent times, from Covid to inflationary pressures, we鈥檙e in an exceptionally strong position. We鈥檙e at the forefront of a vibrant and growing sector and the investments we鈥檙e making are ensuring we鈥檙e well placed for sustained growth.鈥
The company is at the forefront of an important and growing 海角视频 manufacturing industry, which is clustered in Hull and East Yorkshire and employs 20,000 people directly or indirectly within the region. Across the city in Cottingham, Swift is also enjoying strong growth, and has just launched its first ever national television advertising campaign. Another Hull operator, Atlas Leisure Homes, has also seen sales nearly double.
Mr Munk said full-year results are particularly remarkable as performance in the first half of the year was impacted by continued pandemic-driven interruptions to raw material supplies and Covid-related staff absences.
Willerby鈥檚 chief financial officer Sue Allan said: 鈥淲e鈥檙e particularly pleased that employees in every part of the business have shared in this success. It鈥檚 a guiding principle of the business that everybody contributes to the company鈥檚 success and also benefits from it.
鈥淲e鈥檙e also proud of the commitments we continue to make to R&D, training and development, and skills. These are investments in the business and also the local community and economy that we鈥檙e an important part of.鈥
Read next:
Wren adds fitted bedroom ranges to widen household appeal after kitchens catapult to near 拢1b sales
Ideal Heating to invest in 拢10m Hull R&D facility as it sets out to lead 海角视频's low carbon switch
Revenues soar for MKM in landmark year that saw 100th branch open
Resilience of Great British fish and chip market underlined as supplier enjoys strong growth
Swift gears up to feed the 1,500 as new staff facilities added to fuel leisure growth ambition
All your Humber business news in one place - bookmark it now
