UK superyacht sales hit £3bn

THE British superyacht industry has had its best year of sales since the financial crisis – with revenues of £3.01billion.

The figures from the year to April 2016 are a 1.6 per cent rise on the previous year, and the first time the £3billion mark has been breached since the credit crash of 2008.

Income across manufacturing, hire services, mooring and business support such as marketing were taken into account for the report by industry body British Marine.

Chief of the organisation Howard Pridding said: ‘The industry is robust – revenue is growing and we are taking on more staff.’

The report added that manufacturers have been hit by a 2 per cent rise in the cost of raw materials due to the fall of sterling. However the exchange rate has boosted purchasing power for foreign customers, driving the demand for yachts.