Improving fortunes for Sunseeker
The UK yard returns to profitability with key new Manhattan, Predator and Yacht launchesLuxury boat builder Sunseeker International has returned to profit in the second quarter of 2016 and forecasts an overall return to profit for the full year. The UK-based business also announced a £50 million of investment to be spent across new products, improved shipyard facilities, and the continued recruitment of people over the next five years.
This yard's improving fortunes are attributed to sustained growth, restructuring and investment in new products, shipyards, skilled staff and apprentices. This was coupled with better efficiencies throughout the business and driving a strong and improving order book, which Sunseeker says is up 24 per cent (by turnover) year-on-year in 2016.
NEW MODEL INVESTMENT
Sunseeker says its investment in new model development is already reaping rewards, with five new model launches in 2016 including the 131 Yacht, 95 Yacht, Manhattan 52, 116 Yacht and Predator 68 MK II, securing more than £220 million of orders at retail value to date.
These multiple model launches are set to continue as part of a long-term product plan that will see new model introductions across the size range over the next five years.
According to the press release, the executive team’s plan to invest in long-term profitability and help drive excellence, innovation and efficiency across the business has set Sunseeker on a fresh course to strengthen its position as the number one global brand for luxury performance motor yachts. The plan is backed by majority shareholder Wanda Group, which has underwritten the investment to support the plan.
As well as the significant investment, Sunseeker also made huge financial progress in 2015, reducing losses by 67 per cent to £13.6 million and paving the way for the company to return to profit in 2016.
"All this, underpinned by a strong forward order book, means we are very excited for the future of this business," said Phil Popham, CEO of Sunseeker International.
Meantime, on the local scene, Sunseeker East Coast Australia has a new Predator 57 (photos above) in Sydney at its Birkenhead Point offices ready for delivery. More at www.sunseeker.com.au.
Tags
Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.
