Holiday park operator owned by Preston man sees turnover pushed close to £60m - here's what's driving success
Pure Leisure Group is wholly owned by Preston-born entrepreneur John Morphet who started his life as a farmer but made his fortune in the leisure business, founding South Lakeland Caravans in 1988 and Pure Leisure Group in 2004.
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Hide AdPure Leisure Group, which is based in Carnforth, has holiday and leisure parks across the UK including Docker Holiday Park and Cockerham Sands in Lancashire, while its flagship site is Royal Westmoreland, a luxury golf resort in Barbados.
In the latest accounts for Pure Leisure Group, covering the year to January 31, 2024, turnover for the period rose from £50.6m to £57.8m. In a review within the accounts, Pure Leisure said the sales of holiday homes in the UK and the sales of private residences overseas - with their associated profit margins - were the key financial performance indicators of the business.
In the UK, holiday home sales in the year remained consistent with the prior period, although average margins dipped due to increased costs applied by the manufacturers. The overseas business is dependent upon real estate sales, fractional ownership revenue and the associated margins.
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Hide AdSale volumes increased in 2023 compared with the prior year with a mixture of whole property and apartment sales. The fractional ownership offering on the resort continued to prove to be attractive to buyers looking at entering the overseas property market, Pure Leisure Group said.
Pre-tax profits for the period fell from £35m to £12.4m as a result of an accounting entry within an overseas group entity. Underlying profitability was consistent with the prior year.
During 2023, Pure Leisure acquired Lakesway Holiday Home & Lodge Park as well as agricultural land in Shap and the former Falls of Shin Visitor Centre in Lairg. Six Arches Caravan Park was sold.
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