Hull holiday homes manufacturer Willerby sees turnover increase to £129.9m as staycations continue to boom

Hull-based Willerby recorded turnover of £129.9m, up from £122.5m in the previous year, an increase of 6 per cent, for the year to October 2, 2021.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at £5m.

However, the impact of the lost opportunity to manufacture more units due to disruption was £7.1m, meaning the underlying EBITDA was £12.1m, a 22 per cent increase on £9.9m the previous year.

While operating profits grew by 20 per cent to £3m, from £2.5m.

Sue Allan, finance director at Willerby, said: “These results demonstrate the resilience of the business and our ability to withstand significant pressures.

“It was frustrating that we were unable to operate at full capacity during a period when we were seeing exceptional levels of customer demand.

“Despite operating a very successful Covid test centre and daily testing regime, reflecting our strong focus on staff health and wellbeing, we had significant numbers of employees off work at various periods during the year, having tested positive or due to self-isolating.

“Our suppliers also suffered disruption due to Covid and global supply chain issues around the availability of materials.”

Willerby has responded to the surge in staycations and unprecedented demand for holiday homes, lodges and residential park homes by boosting production capacity and increasing its workforce. Willerby now has 1,150 employees.

Peter Munk, CEO of Willerby, said: “The market we serve is exceptionally strong and all the indications are that this will continue well into the future.

“British holidaymakers have re-discovered the joys of stress-free and sustainable staycations and short breaks in the UK.”