Sealine reports £3.56m loss for 2008

Despite loss, Sealine's turnover jumped 15.6% to £52.153m in a period of slack sales for the world's boatbuilders

Sealine has reported an operating loss of £3.56m for 2008, but an increase in turnover from £42.09m to £52.153m.

The figures follow Fairline’s announcement on Monday that it had made a loss of £17.4m in 2008.

Sealine, the maker of flybridges and sportscruisers from 34ft to 60ft, said losses fell compared to 2007, from £6.901m to £3.56m, International Boat Industry reported.

This, combined with the 15.6% jump in turnover, can be counted as good news in a period that saw sales slump for boatbuilders across the world.

Sealine, owned by giant US boatbuilder Brunswick, was one of the first big British builders to make cuts last year when the extent of the world’s economic troubles became clear.

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The Midlands-based firm slashed almost half its workforce in October 2008, and closed two factories.

In a report accompanying the financial statement, Sealine’s directors said, “The scale of the restructuring was exceptional as the company streamlined its overall manufacturing footprint from three sites to its one main facility in Kidderminster.”


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