Swift Group reels in record sales

Bosses at the Swift Group believe that Hull’s status as the UK’s official city of culture will play a significant role in promoting East Yorkshire as a great place to live and work.

Nick Page, the group commercial director at Swift Group, said there had been a shift in consumer sentiment in favour of caravans and motorhomes in recent years.

Swift Acquisitions Limited, Swift Group’s parent company, secured a record turnover of £252m in 2016, which is an increase of 19 per cent on the previous year.

The company employs around 1,150 people. Employee numbers have increased by more than 30 per cent in the last three years. Swift said it achieved growth across all product lines, including touring caravans, motorhomes and holiday homes.

The company also achieved a record operating profit of £17.5m, which is more than double the previous year’s level.

A company spokesman said: “While this level of growth reflects very positive market conditions for the industry, Swift also attributes its profitability increase to a focus on product quality, design and product mix.”

Swift Group said that management kept a tight grip on costs and efficiency gains were realised from investments in manufacturing processes.

The company has significant foreign currency exposure, which was carefully managed to yield a positive result, the company said.

Investments have also been made in improving the manufacturing facilities, with £4.9m spent within the 2016 financial year, and a “significant sum” of capital investment is planned in the forthcoming year, including a new holiday home production line.

Shortly after the August 2016 year-end, the company became debt free by clearing the debt taken on in 2012 to strategically grow the business, Swift Group said.

The company said that the outlook for the coming year remains positive, with trade strongly supported by new product launches including the crossover camping vehicle Basecamp, the Whistler Lodge, and the S-Pod 4 which provides hotel quality accommodation on a park.

James Turner, the company’s managing director, said: “The directors are extremely pleased at the growth in our business.

“Significant investments in capital equipment, training, education and technology have been made which further enhance the total Swift offering.

“We are well positioned to take advantage of future opportunities and challenges in what is currently a buoyant market.

“Our financial strength provides security in an uncertain world and also great scope to continue investing and innovating, increasing confidence for retail customers, dealers, suppliers, and employees, and reinforcing Swift’s leadership of the UK market.”

In February, Swift Group said it had seen sales rocket after it delivered its “best-ever” sales performance at the Caravan, Camping and Motorhome Show.

At the show, the company achieved 26 per cent growth in sales of touring caravans compared with 2016, and a 34 per cent rise in sales of motorhomes.

The Swift Group also launched an academy in 2015 to ensure that employees have the skills needed to help the business grow. Employees can work towards studying for an MBA by enrolling at the academy.

The Swift Group was founded in 1964 by Ken Smith, when he built the first Swift touring caravan, which was known as ‘The Ten’.

This was the first of the Swift range and was built from premises in Hedon Road, Hull. Swift currently operates in three markets; touring caravans, motorhomes and holiday homes.

Swift Group’s touring caravans have around 40 per cent of the UK market. More than 80 per cent of the UK’s holiday home market is now manufactured in Hull.

James Turner, the managing director of Swift, said recently: “A competitive environment is always healthy in business and good for consumers.”