Fleetwood profit down for half-year

Caravan and donga maker
Fleetwood saw an 18 per cent decrease in its first-half profit, despite a
strong jump in revenue.

Revenue was up 28 per
cent, according to Fleetwood’s interim financial report. The West Australian reports
that first-half profits fell to $4.2 million, nothing that the erosion in profit highlights the
pressure that margins for Fleetwood were coming under.

“[R]evenue for the group
was significantly higher than the previous corresponding period driven in part
by the introduction of new products and new services for the recreational
vehicles and education sectors, but overall margins for the group were lower
reflecting the tough trading conditions,” said Fleetwood.

This result follows a
difficult first-half result for Fleetwood the year earlier, in which its profit
dropped 81 per cent that year to $5.1 million.

Image: brighthouse.com.au