Managing Director’s report
The company’s financial year 2007/2008 has proved very successful in challenging times. With a rapidly changing global economic climate I am very pleased to announce yet another record-breaking year.
Sales for the year increased to a record £293 million, an increase of 22% on the previous year’s best ever result. Pre-tax profit also increased by 10% to £13.7million.
This continued growth has enabled the company to maintain its status as the UK’s largest production boat builder. As in previous years a planned investment programme has enabled us to introduce new models, expand our production facilities and strengthen our workforce to another record of 2,350 employees.
New shipyard facilities have been added to those at New Quay Road in Poole, these have been specifically built to accommodate the larger models over 100 feet in length. A new 260 tonnes travel hoist has also been provided, allowing boats up to 150 feet to be lifted. Osprey Quay in Portland has been granted planning permission to increase the existing facilities on the 11 acre site and this development will enable the company to meet future demand for its larger models.
As the business continues to grow, so to do the requirements of its management systems. To help with this, the company has recently introduced SAP for its management information system. This will have an impact on every department throughout the business and is seen as a major factor in the company’s future prosperity.
The 34 Mere Yacht was launched in January and this new model received similar acclaim as the 37 Metre did twelve months earlier putting Sunseeker firmly on the map as one of the world’s major superyacht builders. With a number of these larger yachts already in build and firm orders for the next two/three years, Sunseeker’s large yacht programme is very secure.
Also launched over the past year was the 86 Yacht, an excellent example of our continual design development offering new interior finishes through a number of layout options. The Manhattan 70 and Predator 72 also made their debut adding two new very exciting models to the range. The Predator 92 and Predator 84 were launched at Southampton Boat Show in September and the 30M Yacht will be launched at the London International Boat Show 2009 along with the new Predator 74. Firmly underway are the designs for the new 46M Yacht and Predator 130, two very exciting projects which have already attracted great interest from the media, as well as existing and new clients.
Once again and for the fifth consecutive time the producers of the famous James Bond 007 movies have chosen Sunseeker to star in their latest film, Quantum of Solace, due for release in November. We see this as a tremendous endorsement of the product and very important as part of our global brand awareness programme.
Sales in new market areas continue to grow, albeit cautiously, as more customers become aware of Sunseeker and the quality of its product. Distributors in the Middle East, Far East, Russia and Australia are all reporting higher levels of enquiries and sales.
The global economy is going through a very uncomfortable period but I am confident that with the number of current orders, new models currently in development and continued interest in the product Sunseeker will remain the first choice for many clients.
Robert Braithwaite CBE
August 2008
