Shareholders in County Durham caravan company Erwin Hymer are toasting a £4.3m dividend payout following strong performance in the motorhomes market.
The Consett enterprise was acquired by German caravanning giant Erwin Hymer Group in February 2017, when the new owners snapped up 100% of the shares of The Explorer Group, including all of its subsidiaries.
The acquisition, for an undisclosed amount, was one of several in which foreign firms swooped for North East businesses, attracted to the region in part by the fall in sterling which make UK buyouts better value.
Now the firm, rebranded Erwin Hymer Group UK Ltd — makers of the Elddis and Buccaneer caravans — has published its first accounts following the takeover, for the eight months ended August 31, 2017, which reveal a strong trading period with pre-tax profit coming in at £2.7m on revenues of £79m.
Directors said the performance compares favourably with the previous, full-year results, in which the firm posted turnover of £102m and profit of £4.2m.