Princess Yachts is hoping to ramp up annual production rates over the next three years. The Plymouth-based shipbuilder made 270 luxury yachts in 2018, boosted by increased orders from American clients. The shipyard also claimed it could produce as many as 350 yachts a year by 2022.
Chief marketing officer Kiran Haslam told the Mail it would “not be unrealistic” for Princess to increase output by 30% – though this would probably be possible only if it received orders for the smaller vessels in its range.
Employing 3,200 workers after taking on 850 new staff last year, it can take 100 employees more than a year to build one of its biggest boats.
Princess made a record £30 million operating profit last year on turnover of £340 million.
Antony Sheriff, executive chairman at Princess, commented, “We are set up to produce between 250 and 300 yachts a year. If the market grows significantly, we will of course respond.”