The leading UK marina business, Premier Marinas, has reported a stronger financial performance in the 12 months to October 1, 2017 compared to the previous 18 months up to October 2, 2016.
In the filing of the results with the UK’s Companies House, it stated that: “The directors are satisfied with the performance of the company for the period and with its financial position at the end of the period. The directors do not anticipate any significant changes to the level of business activity in the coming period.”
A division of the Wellcome Trust, the key performance indicators for Premier Marinas show that in the year to October 1, 2017, the turnover was £8,706,000 and the EBITDA was £3,005,000. This compares with a turnover of £12,006,000 and an EBITDA of £3,284,000 in the previous 18 months to October 2, 2016.
In terms of profit in the 2017 fiscal period, the profit after taxation was £5,088,000 as against £2,097,000 for the 18-month fiscal period ending October 2, 2016. For the 2017 period gift aid of £5,000,000 was paid compared with £121,000 in the previous 18 months. In the 2017 fiscal period the value of the net assets/shareholder funds of the Premier Marinas group rose from £131,506,000 in October 2016 to £133,094,000 in October 2017.
One corporate financial action during the year was that in February 2017, Premier Marinas received a £7.4m investment from its parent company via an issue of ordinary shares in the company. Premier Marina Holdings the lead company in the group, invested this amount in its subsidiary, Premier Marinas (Eastbourne) Ltd. The latter used this investment plus additional funds to purchase land and buildings at its Eastbourne marina site. The acquired assets are primarily office and retail buildings, car parks and boat storage areas.