Oyster back in profit
Oyster Yachts, the luxury yacht builder which was rescued from bankruptcy when it was bought by software entrepreneur and cruising sailor Richard Hadida in 2018, has confirmed that it is now back in profit. After three years of considerable investment, Oyster reported profits for the first quarter of 2021 and full order books for the next two years.
In order to meet increasing demand the company recently expanded its manufacturing capacity by taking on space at Hythe Marine Park in Southampton, in addition to its existing sites in Wroxham and Southampton.
This summer the second new boat under Hadida’s steerage will be launched, the 60ft Oyster 595, followed by the 50ft Oyster 495 at the end of the year.