Marine industry happy to see buoyant figures

NEW figures have shown that the UK leisure, superyacht and small commercial marine industry is posting revenues not seen since before the financial crash.

Thursday, 12th January 2017, 5:55 am
The Sunseeker stand at the London Boat Show Picture: onEdition

The report – released at the London Boat Show by membership organisation British Marine – found revenue in the south east had grown by over £99m in the past 12 months, with an increase of 1,475 full-time roles being created in the region.

The report was released at the start of the show, which runs until Friday, where 300 companies are showcasing the best the marine industry has to offer, including 50 businesses from Hampshire.

Sunseeker International is unveiling the world premiere of its 68 Sport Yacht and Manhattan 66 while Nautilus Yachting, Pure Latitude and FlexiSail also have world debuts at the show. Five firms based in the south east are new exhibitors for 2017 including Bray Marine Sales Ltd, Edwards Heavies Ltd, Guiding Light Charts, Powerboats Ltd and Urban Truant.

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Howard Pridding, CEO of British Marine, said: ‘The industry remains robust – revenue in the south east is growing and we are taking on more employees.

‘Despite the post-referendum volatility impacting on business and consumer confidence, the industry remains bullish and keen to take advantage of the short and medium-term opportunities that lie ahead, starting with the 2017 London Boat Show.’

The report found that in 2015/16 industry revenues in the south east grew from £868.46m in 2014/15 to £966m in 2015/16. The south east makes up 32.1 per cent of the industry revenue across the UK and nationally in 2015/16, revenues grew by 1.6 per cent to £3.01bn. The industry directly contributes over £1.11bn to the UK economy.