Princess Yachts

[Chawks]

I saw a Sky news headline earlier saying that Princess Yachts are up for sale. I understand they had a very good order book until Putin starting chucking bombs around!
Lets hope Princess keep going

 

[Portofino]

The owners have been quietly trying to offload it as a going concern for at least a decade .Bit of an open secret really .
Thing is no one wears a blindfold during due diligence …..so a sale never materialised.

 

[Sticky Fingers]

Press release:

The UK boatbuilder responds to rumours that it could be for sale following Sky News article earlier today.

UK boatbuilder Princess Yachts has issued the following statement following speculation it could be sold. The statement reads:

Princess has intensively invested to renew and grow its product range with innovative models such as the X95, Y72 and X80. The result has been a rapid growth in the sales success of the company in recent years. Princess is now firmly Britain’s largest luxury boat builder, and the demand for Princess models has never been stronger with retail sales exceeding 300 boats a year and a near $1 billion forward order book stretching well into 2024. We are at full capacity and our primary focus is to expand our facilities and employment to respond to this unprecedented level of demand.

As part of a recent submission to HMG by Plymouth City Council to create a Freeport in Plymouth, Princess have developed a proposal to double the capacity of its South Yard facility to increase the product offering and further strengthen its market position. This in turn will create additional jobs and secure a bright future for boat building in Devon and the UK. The company and its shareholders are now considering beginning discussions with potential investors to provide financial support for these exciting plans for growth.

Separately, Princess is fully complying with all sanctions regulations and is not supplying yachts to Russia or to any persons connected with Russia, whilst continuing to enjoy record sales.

 

[PowerYachtBlog]

Okay nice PR spin.
Like we do not want to invest any more money ourselves, so if investment will come it will be by a new owner, as we are not the least interested even though we have the largest order book any British boat builder ever had.

That PR gives me more worries then peace of mind. But what I know.

 

[stelican]

Still looking for a buyer then.

 

[Portofino]

Well look at the only the positive ….Plymouth is easier to get to than ……