The Fleetwood Corporation Limited share price just hit a 52-week high

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.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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