Fairline returns to profit after three years of losses

Boatbuilder made the announcement on the same day it officially opened revamped manufacturing facility

Fairline announced a return to profit yesterday as it officially opened it revamped manufacturing facility in Corby.

The Oundle-based company revealed an underlying EBITDA of £3.7 million on sales of £82.6 million for 2012.

This reverses a three-year trend of consecutive losses from 2009-2011.

Fairline CEO Alistair Schofield said: “Over the past 18 months the business has reacted dynamically to the difficult economic climate and taken the appropriate steps to move the business back into profitability.”

The company has invested £2.8 million in its Corby facility over the past 12 months, moving to a mixed-model production set-up and introducing resin infusion and CNC machining for its furniture.

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Fairline’s latest models – the Targa 48 Open, Targa 48 Gran Turismo and Squadron 48 – will all be built using these new techniques.

The first of this new model, the Targa 48 Open, will make its debut in the summer.

Crossbench peer Lord Digby Jones officially unveiled the plaque commemorating the investment alongside Fairline boss Schofield.

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