So the backdrop for the past year was extremely gloomy.

However the reality of the year's turnover figures of our business at Peters Plc has been far from gloomy.

Our turnover has seen a 14% increase with profits even higher. So we went into the 2002 Southampton Boat Show with a real question mark hanging over us.

Were our good year-on-year figures going to grind to a halt?

Or should we be bold and hope that, with good weather, we would see a return of the boat buyer in numbers?

We decided to be positive and with Peters Plc covering the boating spectrum from sail to power with our Fairline, SeaSport Marine and Opal Marine divisions, we were the largest exhibitor with 37 boats on display; a serious commitment to the show.

With the blessing of good weather - and no major bad news throughout the show - at least the underlying conditions were good. So it was down to our own sales skills, value of our products and the continuing low interest rates which would guide us through.

It turned out to be a record, with £31m worth of sales on our stands, 300 boats sold, more boats than we had ever achieved at previous shows, and a general feel good factor at large.

Our confidence had paid off.

I think that going into an unknown situation, a company has to look positive and be confident in its success.

That is why we are looking at ExCeL in the same way. There are dissenting voices, there are difficulties in the site through access and facilities, but Earls Court is not perfect either.

And we need a new, modern venue to revitalise the interest of the London Boat Show.

We are therefore fully in support of the new venue and will strengthen our marketing to ensure our customers are treated to an exceptional experience when they visit us at ExCeL and will be encouraged to come again the following year.

We know that the British Marine Federation (BMF) has substantial new sponsorship and extra funding for the promotion of the London show, which is obviously welcomed and essential, but it is also up to the exhibitors to make this work.

Once again Peters Plc will be strong in its presence with Fairline, Rodman, Bavaria, Legend and Island Packet brands making us the largest exhibitor at the show with the greatest reason to make it work.

Fairline has performed well this year for us with revenue up 13% over last year. During the Southampton Show, 43 boats valued at £13.5m were contracted and more will follow after the show as buyers confirm.

A new model programme for 2003 will maintain this interest and ensure a strong future for one of UK's top builders.

Our Opal Marine division has continued its record performance through its range of Bavaria yachts, which have led the way in value for money sailing.

The confidence of Luhrs Marine in setting up its European manufacturing facility in Portland, Dorset, has been rewarded by a 97% increase in sales at Southampton.

Opal marine overall contributed a massive £15m to our Southampton Boat Show results.

I think the moral of all this is success through positive action.

At Peters, we sincerely hope that others in the marine industry will join us in looking forward and putting our joint efforts into making the London Boat Show move a positive turning point in the fortunes of the UK marine industry.