Global Edition

 

PowaKaddy bucks the trend

8.30am 16th June 2003 - Corporate

In particularly tough times for the golf industry, Powakaddy has bucked the trend and posted impressive sales results. The market leader in golf cart technology and development has announced an annual rise in sales by 20.4% to £13.2 million for the year ended December 2002. Operating profit for the period rose by 101% year on year to £1.9 million.

In his annual statement the chairman of PowaKaddy International Ltd, Mike Snapes, was delighted with the giant steps PowaKaddy had made towards ‘super brand’ status within golf. “PowaKaddy is increasingly regarded as a ‘must have’ product by on-course golf professionals, golf retailers and overseas distributors,” he said. “The brand is dominating its category and is now clearly positioned alongside the leading golf equipment brands”.

The management team sites three particular factors behind PowaKaddy’s growth in recent years

Stronger product range: Stylish refinements and technological enhancements have provided the consumer with more choice and improved efficiency, stability and performance across the entire PowaKaddy range.

Younger appeal: The appeal of the products is rapidly spreading to a wider golfing audience with the younger generations more readily embracing the performance benefits of a PowaKaddy. Significantly the biggest growth sector in the period was the 30-45 year old sector.

Expanding exports: Sales outside the UK are soaring due to the continual strengthening of PowaKaddy’s distribution network across more than 40 countries and the company’s commitment to refining product design to meet the needs of the local golfing consumer.

Sales Director David Wells is predicting further exponential sales growth this year too. “The product range is even better this year and the market appeal for PowaKaddy is broadening rapidly as we note a big shift to a younger consumer who not only sees the game improvement benefits but now identifies more readily with the brand,” he said. “Combine this with the huge potential in export markets, particularly the US where RoboKaddy is really starting to take off, and I believe we can look forward to more double digit growth in the next financial year”

PowaKaddy International Ltd is owned by European Golf Brands, the world’s largest manufacturer of electronic golf trolleys.

Further information is available from David Wells at PowaKaddy on 01795 473555 david.wells@powakaddy.co.uk

Powakaddy www.powakaddy.co.uk

       

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