UK boat firms on the crest of a wave
Monday 18 September 1995
Total industry turnover rose last year by 12 per cent to pounds 1.7bn, compared with pounds 1.5bn the previous year. Revenues in all sectors of the industry are increasing, although margins in the domestic market remain tight, with buyers generally cautious. Boat exports have soared from pounds 45m to pounds 182m, while overseas equipment sales were worth a record pounds 304m. Overall, exports accounted for 40 per cent of total sales.
Tony Beechey, executive chairman of the BMIF, said: "I think it would be hard to find another industry which is so widely diversified in which exports account for such a high percentage of turnover." Power boats are the big success story of the industry, with leading manufacturers such as Fairline, Princess and Sunseeker, all exporting 75 per cent or more of their production, at prices ranging from pounds 250 to pounds 750,000. Fairline, recently acquired by the Renwick group, builders of the Princess and Moody yachts, has seen sales recover from a recession-hit pounds 27m in 1992 to an anticipated pounds 44m this year, of which exports account for about 90 per cent.
But the recovery is by no means confined to the top end of the market. Somerset-based Henshaw, which makes small inflatable dinghies, with prices starting at less than pounds 1,000, reports that in the first 11 months of this financial year sales are 30 per cent up on 1993-94.
Used boat prices have also started to harden, says Ian Horobin of brokers Easton & Partners at Beaulieu, Hants. "Demand for good boats is definitely improving."
Southampton is the industry's annual showcase, with about 1,000 craft worth more than pounds 55m on offer. Billed as the world's biggest on-water boat show, the event brings together some 600 companies from all sectors of the leisure marine industry. The boats themselves range in price from less than pounds 600 to more than pounds 750,000.
The largest boat in the show, a Tarquin Signature 75, has three double cabins with en suite bathrooms - plus separate accommodation for the crew - indoor and outdoor dining space for eight or more, and, of course, a built-in garage. For the jet-ski, that is.
Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
South Korea ferry passengers who were told to stay put 'got trapped' aboard sinking ship
Are beards attractive? Ryan Gosling says yes, but science says no. Take the A-list facial hair challenge and find out who's right
Oscar Pistorius trial: Defence witness 'unqualified' to testify
Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
- 2 Big Bang Theory to get special Star Wars episode with help from Lucasfilm
- 3 Babies cry at night to stop mothers procreating, scientists claim
- 4 Pharrell Williams 'Happy': British Muslims dance to song in video
- 5 24 people applied for the 'world's toughest job', here are their interviews
iJobs Money & Business
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...
£40000 - £50000 per annum + BONUS + BENEFITS: Harrington Starr: A leading, Cit...
£35000 - £50000 per annum + Bonus + Benefits: Pro-Recruitment Group: You must ...