Sunseeker reports it has returned to profitability

Sunseeker International has moved back in to profit in the second quarter of 2016 and is forecasting an overall return to profit for the full year, the company said Tuesday.

The business also announced a £50 million (approximately $67 million U.S.) of investment to be spent across new products, improved shipyard facilities and hiring of new staff over the next five years.

The company credited the results to the company’s recent restructuring, improved efficiencies and the recovery plan created by its new executive team. The company reported that orders are up 24 percent (by turnover) year-on-year in 2016.

Sunseeker has launched five new model in 2016 including the 131 Yacht, 95 Yacht, Manhattan 52, 116 Yacht and Predator 68 MK II, resulting in over £220 million (approximately $296 million U.S.) of orders at retail value to date. These multiple model launches are set to continue as part of a long term product plan that will see new model introductions across the size range over the next five years, the company said.

Phil Popham, CEO of Sunseeker International, said, “I am delighted with our performance. 2016 has been a defining year for Sunseeker and we are confident of achieving strong, profitable and sustained long term growth as we continue to invest in the business for the future. This was just the start of our journey, we will continue to invest heavily over the next five years in new product development, shipyards and our people. All this, underpinned by a strong forward order book, means we are very excited for the future of this business.”