The weakness in the pound has lifted sales of luxury yachts
Brexit has delivered a boost to Britain?s biggest boatbuilder with Princess Yachts revealing that the crash in the pound helped it secure extra sales.
Speaking as the Plymouth-based company showcased four new vessels at the Cannes yacht show, chairman Antony Sheriff said buyers had taken advantage of sterling?s weakness, gifting the business a “windfall”.
?Especially on the larger boats we have customers who are financially savvy and they have seen this as a unique opportunity to save money without having to negotiate,? he said. ?People have seen the pound move and taken the decision it is a very good time to buy.?
General view of boats exhibited as part of the “Yachting Festival” in Cannes
Princess builds between 200 and 250 yachts a year costing from £300,000 to £20m, but declined to put an exact number on the amount of sales made.
?It is very difficult to predict what is gong to happen as a result of Brexit but we are seeing a lot of activity in the non-sterling area,? Mr Sheriff said. He added that the company would not change its plans to target this group, but was  simply ?taking advantage of what felt like a reasonably good opportunity?.
Princess – part of the LVMH group – admitted that its costs were ?a little higher? in the wake of the EU referendum, with the company importing major components such as engines and drive trains for vessels.
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