John Morphet started out by helping his mother to run a small caravan park on the family farm in Lancashire. With a loan of £130,000, he founded South Lakeland in 1988, and the company has grown through acquisitions. It now operates caravan parks in the north of England and Wales and has begun to diversify. Last year, it acquired the prestigious Royal Westmoreland resort in Barbados for a reported £53m, and has introduced log cabins at its British resorts. These generate higher margins than caravan sales and have helped profits grow 47% a year from £2.6m in 2001 to £8.3m in 2004.
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