US powersports manufacturer Polaris Industries has unveiled its fifth consecutive year of double-digit revenue and profit growth in 2014.Â
The company’s full-year financial results reveal a 19 per cent sales revenue increase to £2.95bn. Operating profit was up by 29 per cent to £470.2m. Net profit rose by 19 per cent to £298.7m.
Fourth-quarter sales grew by 18 per cent to £838.8m. Operating profit improved by 24 per cent to £138.3m and net profit by 25 per cent to £89.1m.
Core quadbike and side-by-side ATV production dominated the results with revenue from that division rising by 15 per cent to £1.91bn for the full year and 19 per cent to £472.7m in the fourth quarter.
The Polaris motorcycle division, encompassing its Victory and Indian cruiser brands, reported annual revenue up by 59 per cent to £229.4m. During the fourth quarter, revenue rose by 50 per cent to £68.1m. Retail unit sales in the final three months of 2014 were up by almost 40 per cent, led by a strong showing from Indian with a pair of new Roadmaster and Scout products launched onto the market. Bike exports in that period increased by seven per cent.