UK yacht-builder places 87th in list of top-performing companies
Princess Yachts has placed 87th in the annual ‘Top Track 250’ listing of UK companies compiled for The Sunday Times newspaper.
The basis of Princess Yachts’ placement in the list was its sales and profit performance. The entry in the list referred to the company’s sales rising to £274.4m, up 27% and its profit of £10.9m an impressive rise of 268.1%
The entry explained that Princess Yachts is owned by I Catterton, a private equity fund backed by LVMH, and that it constructs yachts between 12m-40m (39ft-130ft). It reported how Antony Sheriff, executive chairman, had overseen the 27% sales growth to $274.4m in 2017 and an increase in Princess’s workforce up to 3,000.
With six new models launched, the entry states that sales for Princess Yachts are anticipated to grow more than 20% this year. The company reported a very good response at the Cannes Yachting Festival last month, where its new R35 model made its global debut. Princess’s order book is said to be in the region of £750m on a retail basis.
The ‘Top Track 250’ listing ranks the UK’s private mid-market growth companies by sales, with required growth in profit and sales. It is produced by Fast Track, the Oxford-based firm that researches Britain’s top-performing private companies and organises invitation-only dinners for their owners and directors to network and meet its sponsors.