Booming ATV and motorcycle sales heralded splendid growth for US powersports manufacturer Polaris Industries in its third-quarter financial results to 30 September.
Sales revenue for the Indian and Victory motorcycle brands, primarily led by a surge from the former, rose by 28 per cent to £39.5m during this latest three-month period — and is now up by 62 per cent to £153m in the nine months of 2014 to date.
In comparison, the company’s core quadbike and side-by-side ATV operations delivered a more modest improvement on much bigger numbers. On a quarterly basis, ATV revenue increased by 17 per cent to £513.4m and 14 per cent to £1.33bn for the nine months.
Total Polaris revenue for the quarter grew by 18 per cent to £812.2m. Operating profit was up by 23 per cent to £138.8m. Net profit climbed by 20 per cent to £87.8m. For the year to date, revenue has increased by 19 per cent to £2bn, operating profit by 23 per cent to £314.8m and net profit by 17 per cent to £198.7m.
Commenting on this performance, Polaris chairman and chief executive Scott Wine said: “Our strong third-quarter results reflect the continued execution of our long-term strategy and broad strength across our industry-leading portfolio. Amid heightened competition we garnered strong retail sales in all categories, even as we introduced more than 20 new off-road vehicles and motorcycles, and over 300 new complementary accessories for our consumers.”