MBH Corporation PLC (OTCQX:MBHCF, ETR:M8H) said portfolio company Robinsons Caravans saw record sales and profits over the past financial year and during the coronavirus pandemic.
Robinsons, a caravan trader, generated revenues of over £20mln in the calendar year, the highest in their 54 years of trading, MBH said.
Profits came in at £1.6mln for 2021, up 52% from their previous highest profits of £0.9mln in 2017.
Growth during the pandemic was fuelled by a big increase in first-time caravan buyers, as many people were prevented from travelling abroad or from mixing with other households and so had cash to spend and inclination to go alone.
Demand for caravans reached such a high level that it led to backlogs in new models, Robinsons said, which led to the launch of the caravans4cash.co.uk website to drive purchase and resale of used caravans.
“We have enjoyed record growth, but this could have been higher had there not been a shortage in supply," said Jarrod Clay, managing director of Robinsons Caravans.
"The manufacturing of new caravans has been adversely affected during the crisis, which has meant that some sales have been lost. However, as production levels return to normal, demand remains strong, and we are confident of continued growth.”
Callum Laing, chief executive of MBH, said: “Robinsons Caravans has enjoyed phenomenal trading since the crisis started, which has grown the market by bringing new people into caravanning. It’s still difficult to travel abroad, and with the UK having so much to offer, we expect to see the caravan market continue to grow”.
MBH, where Robinsons is one of 27 small businesses across eight industry sectors and five countries that make up the group, itself recorded 81% revenue growth in the first half of 2021 and increased underlying earnings (EBIT) 271% to £3mln.
Other MBH business include taxi firms, property and construction companies, healthcare operators and training providers, with each one retaining its autonomy but roughly 70% of the group's shares owned by the principals of the businesses.