At British based boat builders Oyster’s group turnover in 2012 was up on 2011 and delivers a second year in a row of improving results from the recession linked low points of 2008 to 2010.
Reporting profitable results and with a good order book across its range, Oyster closed 2012 in its strongest position for many years.
A debt free balance sheet reflects a successful restructuring in February 2012 of the leveraged private equity ownership which ran from early 2008 to the end of 2011.
The new shareholders are committed to a long term investment in the Company and to maintaining After Sales and Support operations.
In June 2012 the Group acquired the fit-out business of E.C. Landamore & Co. of Wroxham which for the previous four decades had been fitting out Oyster yachts as a subcontractor to the Group.
This strategic acquisition focuses production of the smaller yachts at the Landamore site whilst the larger yachts are built at the wholly owned facility in Southampton
Plans are being formulated to further expand the Wroxham facility to deliver greater production efficiencies.
Oyster’s focus on its Owners enjoyment of their yachts continues and the inaugural Oyster World rally fleet is now mid-pacific en route to their ‘half-way party’ in Australia in early August 2013. Oyster also just concluded the 31st Oyster Regatta in Grenada and on a final note, the company confirmed more than 15 entrants already planning for the second World Rally, starting in January 2016.