by Holly Tribe
The parent company of Elddis and Buccaneer Caravans has reported a 40% increase in sales for 2010.
According to NE Business, the Explorer Group has been suffering the fall-out from the financial crisis with annual turnover falling from £57m in 2007 to £35m in 2009. The drop in sales has been attributed to potential customers finding it difficult to secure loan finances on new caravans.
But after a year of strong sales, 10 new model launches and a total redesign of the popular Elddis Avante range, the firm has announced pre-tax profits of £3m for last year. The directors’ financial report for the year ending 31st August 2010 is cautiously optimistic about the year ahead.
“The general economy in the coming financial year shows little sign of improvement, particularly regarding the UK Touring caravan and motorhome market.
“The directors are confident that the continual development and improvement of its ranges will allow the company to compete and retain a strong position in the future,” it said.
At its peak in 2007 Explorer, owned the venture capital Constantine Group, had a workforce of over 400 staff which it was forced to reduce to 291 by the end of 2009. Despite this, the report explains how the firm has continued to work closely with retailers ‘to ensure continuity of stocks and supply of product.’
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