Apollo revenue drop

RECREATIONAL vehicle rental business Apollo Tourism & Leisure has recorded a 73% drop in revenue for the 12 months to 30 Jun, pulling in $293.3 million for the period, a sizable decrease on the $366.7 million noted for the FY 2020 last year.

The Australian market contributed $191.6m in revenue which was fuelled by periods where domestic borders were open, and was the largest volume of any market for Apollo, followed by North America with $136.4m.

Despite the drop in income, Apollo did manage to claw back some ground in its net loss after tax result of $17.9 million, a vast improvement on the $61.2 million loss recorded in the previous corresponding period.

Part of that positive movement was driven by a significant reduction in operating costs, which for the year to 30 Jun was $280.6 million, trimming the outgoings by $96.1m on last year.