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Yacht makers stay afloat in recession
THE UK superyacht sector has remained buoyant in the recession, with revenue growing 15 per cent year-on-year, according to figures released by the industry’s trade body.
Superyacht UK, which represents over 160 member companies involved in the superyacht manufacturing business, said that revenue has increased from £350m to £410m over the year.
The UK figures buck the European trend, where the number of orders for yachts has sunk. Superyacht UK says the resilience is partly due to sales benefiting from the weakness of sterling against the euro.
The survey found that 56 per cent of companies questioned rated the prospects for the year ahead as either “good or excellent”.