RecoRd Results
foR PRincess
Princess Yachts has announced record-breaking
financial results for 2018, claiming it to be
the most successful year in the company’s
54-year history.
Turnover was up £65.9m year on year to a
new high of £340m – a rise of 24% on 2017.
Operating profit before exceptionals also grew
£10.9million to reach £29.8m, an even more
dramatic rise of 173%.
The number of employees at the Plymouth
yard grew to meet the demand with staffing
levels up 50% on 2016 to reach another record
high of 3,200 employees, making it one of
Britain’s largest specialist companies.
Crucially, Princess Yachts says that new
boat sales across the entire range are holding
up well with an order bank worth more than
£700 million that stretches into 2020 helping
to underpin the figures.
Innovative new products like the recently
launched R35 foiling sportsboat and the
X95 Superfly, due to be unveiled at the
Düsseldorf show in January 2020, are helping
to raise the brand’s profile and broaden its
appeal to a new generation of buyers.
Princess says that it “continues to drive
forward product innovation and its
manufacturing capabilities”, investing£14.7m in product development during
2018 (up from £8.9m in 2017).
Antony Sheriff, Executive Chairman,
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.”R I G H T Anthony Sheriff,
Executive Chairman of
Princess Yachts, is thrilled
with the company’s
2018 performance
B E L O W The high-tech
carbon fibre R35 is
helping Princess appeal
to a broader range
of customers2
THE 10