OYSTER TURNS OVER \u00a320M<\/p>\n
HOMENEWSINDUSTRY NEWSOYSTER TURNS OVER \u00a320M<\/p>\n
06 Jan 2020<\/p>\n
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By mid-2020 all production sites for Oyster Yachts will be at full capacity<\/p>\n
INDUSTRY DATABASE<\/p>\n
OYSTER YACHTS<\/p>\n
Oyster Yachts has achieved a turnover of \u00a320m in its first full year of trading.<\/p>\n
The first financial statements filed for the company for the period ended March 31 2019, show a gross margin of \u00a32.2m with an operating loss for the company, excluding exceptional costs of \u00a37.3m.<\/p>\n
Oyster Marine was bought out of administration early 2018 by sole shareholder and CEO Richard Hadida and has an \u2018eventful first 12 months of operation\u2019 following the re-start of trading activities.<\/p>\n
During the last year, the company has re-established all operations covering yacht production, design capability, technical and sales support<\/p>\n
By mid-2020 all production sites will be at full capacity, with orders for new yachts across all models in the range and a timeline ahead of that originally anticipated when the business restarted.<\/p>\n
Investment<\/p>\n
Investment has included an in-house composite moulding facility and investment into the design of the yachts so they comply with Lloyds Register for deck and hull construction.<\/p>\n
The company has also introduced an apprenticeship scheme.<\/p>\n
\u201cI cannot imagine a world without Oyster yachts and so am investing into all the activities of the business to ensure that the company has a sustainable long-term future,\u201d said Richard.<\/p>\n
\u201cWe are on track with the turnaround and I am building a business which has a long-term sustainable and profitable future for the next generation of Oyster owners.\u201d<\/p>\n
At the time of Oyster Marine\u2019s administration, there were 14 yachts that were mid-construction \u2013 agreements were reached with the owners in respect of these vessels with the last of these yachts scheduled for handover in March 2020.<\/p>\n
2020 will also see the launch of Oyster\u2019s new 595 blue water sailing yacht and the directors are looking into the possibility of a sub 50ft Oyster.<\/p>\n
via Boating Business | Oyster turns over \u00a320m<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" OYSTER TURNS OVER \u00a320M HOMENEWSINDUSTRY NEWSOYSTER TURNS OVER \u00a320M 06 Jan 2020 Email Share Facebook LinkedIn Twitter Print By mid-2020 all production sites for Oyster Yachts will be at full capacity INDUSTRY DATABASE OYSTER YACHTS Oyster Yachts has achieved a … Continue reading