Caravan park owner Park Leisure has reported a join in profits after working to brighten up its holiday sites.
Before the organization altered hands for £103m this season its pre-tax profits fell by 43pc to £3.29m, accounts reveal.
Turnover was flat at £57.8m, nevertheless its price of sales rose as did the quantity it allocated to administrative costs. Two sites, Heatherview and Kingfisher caravan parks, were offered to some rival, meaning Park Leisure endured a greater depreciation charge compared to 2015.
Park Leisure’s founders offered it in Feb to some consortium brought by Midlothian Capital Partners.
The creation twenty years ago of Miles Dewhurst and Gary Molloy, the organization had grown continuously to 10 sites, but arrived at a place where funding more ambitious plans by itself might have demonstrated harder.
“We had reached 10 parks if you take on a replacement roughly every 2 yrs simply using mortgages however that wouldn’t happen to be achievable moving forward,Inches Mr Dewhurst stated. “That might have meant us going by using one bank to 2, 3 or 4 so we didn’t wish to accomplish that.”
Since Midlothian got involved, Park Leisure has clicked up a website in Bude, Cornwall, and it is around the cusp of purchasing a website in Yorkshire for 150 of their luxury lodges.