The company, which owns a chain of motorcycle retail outlets, has enjoyed a revival since the pandemic led to people splashing out on new transport.

Managing director and founder David Ahmet said its Harley Davidson dealerships continued to show strong profits and the Indian Motorcycles and Polaris products added strength to sales.

The strong profit allowed the company to pay out a 10 cents a share final dividend, fully franked which also meant a distribution of 20 cents a share for the year. Ahmet earned $2.2 million in dividends. Debt has also been reduced.

There continued to be a shortage of used motorcycles and sales in the category were down 7 per cent, but margins were strong and revenue was up 8 per cent.

Ahmet said the company’s growth strategy was delivering results.

He said product diversification also contributed strongly and the finance joint venture contributed profit for the first time.

Ahmet believes the strong demand would continue in the short to medium term.

“The industry as a whole has stabilised, with consistent volumes and new motorcycle sales growth of 12 per cent for the year, which is a good indication that out current performance is sustainable,” he said.

He said the elevated margins should continue.