The UK superyacht industry is in bullish mood at the currently running Monaco Yacht Show, one of the most outstanding dates in the superyacht calendar, showcasing encouraging signs of renewed activity, after a period of negative growth in 2011/2012. Superyacht UK, the association representing the superyacht industry in the UK, has recently announced results from its seventh annual survey of members. The findings unveil positive signs of growth for the British superyacht sector, with an increase in revenue of 3.9% to £460 million – an increase on the -2.2% growth recorded in 2011/12.
Performance indicators across the board reveal a more positive outlook on the previous year’s results. 40% of members reported a rise in profits, compared to only 32% last year, while 81% recorded a higher or similar workload to the same period one year ago, 8% higher than in 2011/12.
The sector appears to have the momentum to build on current performance into the next year. 43% report a higher value of the order book than 2011/12, representing a 3% increase on the previous year, while 7 in 10 respondents (69%) rate future prospects as “good or excellent” compared to only half (51%) in 2011/12 – this year being the most positive recorded by the sector since the 2007/8 survey.
During this year’s Monaco Yacht Show (25 September – 28 September), Superyacht UK, part of the British Marine Federation, is celebrating its 10th anniversary with an air display by the iconic Red Arrows over Port Hercules, Monaco on Thursday 26 September. This represents a fitting tribute to an association that continues to ‘fly the flag’ for the superyacht sector and UK plc. In addition, 12 SYUK members are present with the association in the UK pavilion at the Show, to collectively promote British Excellence.
Albert Levy, Chairman of Superyacht UK said: “The resilience and broad base of the Superyacht sector in the UK shows through in these very encouraging statistics with turnover and more importantly profit rising. Those who have committed resources during the downturn will reap the rewards.”
Tom Chant, International Development Manager at Superyacht UK added: “The strength of the UK superyacht sector can again be seen in this year’s survey results. Our members design, build and supply the finest superyachts in the world and their skills and expertise are in ever increasing demand.
“We will continue to work hard with our members to ensure the heritage the UK has in this sector continues well into the future. We are delighted to have the Red Arrows come and perform for us at this year’s show and to help us celebrate our 10th anniversary. We are determined to continue to impress people on the water as they do in the air.”
