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BEST-EVER FIRST QUARTER FOR POLARIS

US powersports manufacturer Polaris Industries has reported record results for the first three months of its 2014 financial year.

Total revenue for the period rose by 19 per cent to £528.3m. Sales of quadbike and side-by-side ATVs, a sector in which Polaris dominates the US domestic market, were up by 11 per cent to £358.5m. Motorcycles stacked on a 52 per cent improvement at £46.9m, as the recently relaunched Indian bike brand out-performed its existing Victory cruiser range.

Overall quarterly operating profit grew by 24 per cent to £75.4m. Net profit was up by 7.2 per cent to £48.1m. According to Polaris chairman and chief executive Scott Wine, this represents the 18th consecutive quarter of record earnings for his company.

During the results presentation, Polaris chief operating officer Bennett Morgan also announced that construction of a first European Polaris plant, located in Poland, was now complete and it would begin production in late August. This facility will build ATVs for distribution to dealers in EU countries including the UK.

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