Much to the delight of its shareholders, the Fleetwood Corporation Limited (ASX: FWD) share price climbed to a new 52-week high of $2.68 today.
This brought the year-to-date return for the provider of accommodation solutions, and recreational vehicles, parts and accessories to over 36%.
Why have its shares rallied?
The key catalyst for this was a strong half-year result which saw net profit increase 165% to $3.3 million.
Furthermore, the recent announcement of a key supply agreement with Gateway Lifestyle Group (ASX: GTY) has also given its shares a boost.
The agreement will see Fleetwood supply and install modular homes to Gateway's residential communities for an initial term of two years. After which, Gateway has the option to extend the agreement by a further two to four years.
