Record results & employment confirm Princess Yachts' position as the UK's leading luxury yacht brand
by Princess Yachts 31 May 2019 13:04 AEST
Princess Yachts S60 © Princess Yachts
Princess Yachts Ltd has today announced record financial results, plus new records for yacht sales and employment at its Plymouth headquarters. The results make 2018 the British manufacturer's most successful year in its 54 year history.
Financial results for the 12 months to 31st December 2018 show record turnover of £340.3m (up £65.9m / 24% on 2017) and record operating profit before exceptionals of £29.8m (up £10.9m / 173%). EBITDA for 2018 was £32.8m up from £14.9m in 2017.
Antony Sheriff, Executive Chairman, Princess Yachts, said: "I am really proud of what the Princess team has achieved in 2018. Their focus and dedication enabled Princess to build on the previous two years of solid financial figures and beat 2017's record results. The team launched six stunning new luxury yachts while growing revenues to over one third of a billion pounds.
"These strong financial figures will enable us to build upon our unique, highly integrated infrastructure in Plymouth and invest even more in advanced technologies, new yachts and quality levels across design and production. We continue to forge ahead in our vision to be not just the highest quality, most innovative and successful luxury yacht manufacturer in the world, but also a great British employer."