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£40 million orderbook for Pearl Yachts

Pearl Yachts has announced the introduction of a new flagship model.

The news comes as the luxury boatbuilder releases its latest financial results which show that it has an ongoing annual order book estimated to be worth more than £40m.

First half sales for FY24 were estimated at more than £15m.

In 2024 the company will continue to build its market presence by completing the sale and delivery of its first Pearl 82 model.

In 2024 the yacht builder expects to incrementally increase its production capacity in line with demand and expand its global dealer / distributor network to access new markets, reducing its dependency on the US and Europe.

In 2023, the boatbuilder had a turnover of £23.1 million, up from £17.7 million.

Gross profit was £5.7 million – a decline in gross profit margin to 24.7% compared to 28.8% with profit before tax falling to £0.9 million from £1.9 million, attributed to an increase in marketing spend and continued product development investment.

The largest market for the boatbuilder was Western Europe, a market which grew to £17.1 million from £7.5 million in 2022 in sales.

North American sales declined from £10.2 million to £4.5 million.

The new Pearl 82 is a raised pilothouse yacht, with features including a main deck master suite with five ensuite staterooms in addition to a garage large enough to accommodate a tender, jet ski and water toys.

The boatbuilder has not announced any further details about the flagship model.

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