Princess Yachts Celebrates Successful 2015
Published: Tuesday, 06 October 2015
British boat-builder Princess Yachts is celebrating its 50th anniversary with strong performances at the Cannes Yachting Festival (Sept 8-13) and Southampton Boat Show (Sept 11-20).
Recent figures show Princess Yachts have successfully weathered one of the most difficult years in its history, significantly outperforming a number of competitors. The British brand is on target for profit in 2015.
Despite hurricane-force storms in February 2014 that brought chaos across Southwest England and caused millions of pounds-worth of damage to facilities and stock at Princess's Plymouth manufacturing facility, a major programme of investment undertaken by the company will set a new standard for the industry with six new world-class models launched in the next half-year alone.
While other UK builders reported that adverse economic conditions badly affected their businesses, Princess's order book remained buoyant throughout the year.
The company was able to meet every order and exceed its 2013 turnover, with all manufacturing plans back on schedule by November 2014.
Meanwhile, expansion of both M Class and S Class ranges of boats is taking the Princess brand into new markets and sectors, and heralds a resumption of normative profitability in 2015, while even more growth is projected for 2016.
The company is also continuing to work with its insurers towards final settlement of claims arising from the storms.
"We are immensely proud of our team who worked extremely hard to meet and exceed customers' expectations during such a difficult period as we worked to recover from this natural disaster to ensure that we didn't lose a single piece of business,” says Princess Yachts Managing Director Chris Gates. "We are now on track for a return to our customary position of profitability in 2015 and beyond, with a strong order book and the significant expansion of both M Class and S Class ranges of boats, which will further consolidate Princess Yachts' reputation as a world-leading yacht builder."
This September saw the launch of three all-new Princess crafts including the Princess 35M in Cannes and the Princess S65 and V58 Open, both of which premiered in Southampton.