A strong order book saw Sunseeker move back into the black in the second quarter of 2016

TAGS:

Sunseeker International moved back into profit in the second quarter of 2016. A £50 million investment injection will now be spent on new products, improved shipyard facilities and hiring new staff over the next five years.

As well as the significant investment, Dorset-based Sunseeker also made huge financial progress in 2015, reducing losses by 67% to £13.6 million and paving the way for the company to return to profit in 2016.

A robust restructuring and investment plan is credited with sustaining growth in the business.

Sunseeker is recruiting 225 new carpenters, plumbers, electricians, engineers and mechanics to support the introduction of its new models.

A strong order book is 24% up (by turnover) year-on-year in 2016 with five new model launches, including the 131 Yacht, 95 Yacht, Manhattan 52, 116 Yacht and Predator 68 MK II. These have secured over £220 million of orders at retail value to date. New launches are set to continue.

The company, which employs about 2,000 staff, is now on a fresh course, backed by majority shareholder Wanda Group, which has underwritten the investment.

The company aims to strengthen its position as the number one global brand for luxury performance motor yachts.

Phil Popham, CEO of Sunseeker International, said: “I’m delighted with our performance. 2016 has been a defining year for Sunseeker and we are confident of achieving strong, profitable and sustained long-term growth as we continue to invest in the business for the future.

“This was just the start of our journey. We’ll continue to invest heavily over the next five years in new product development, shipyards and our people.

“All this, underpinned by a strong forward order book, means we are very excited for the future of this business,” he said.