The UK superyacht industry is in bullish mood going into the Monaco Yacht Show, displaying encouraging signs of renewed activity following a period of negative growth in 2011/12.

According to Superyacht UK’s 7th annual member survey, the value of the industry grew by 3.9 per cent in 2012/13 to £460m – an increase on the -2.2 per cent growth recorded in 2011/12.

Performance indicators across the board reveal a more positive outlook on the previous year’s results. Forty per cent of members reported a rise in profits compared to only 32 per cent last year, while 81 per cent recorded a higher or similar workload to the same period one year ago – eight per cent higher than in 2011/12.

«The resilience and broad base of the superyacht sector in the UK shows through in these very encouraging statistics with turnover and more importantly profit rising,» says Albert Levy, Superyacht UK chairman. «Those who have committed resources during the downturn will reap the rewards.»

According to the findings, which were released to coincide with the Monaco show, the UK superyacht sector appears to have the momentum to build on current performance into the next year. Forty-three per cent report a higher value of the order book than 2011/12, representing a three per cent increase on the previous year, while seven in 10 respondents (69 per cent) rate future prospects as «good or excellent» compared to only half (51 per cent) in 2011/12 – this year being the most positive recorded by the sector since the 2007/8 survey.

Superyacht UK, part of the British Marine Federation (BMF), is celebrating its 10th anniversary this year with an air display by the Red Arrows over Port Hercules in Monaco on Thursday. Twelve Superyacht UK members are also exhibiting in the UK pavilion of the Monaco show. (Superyacht Business, 25 September 2013)
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