"The leisure marine market has remained sound over the last year, though the current year is unclear due to high oil prices, " says company chairman Rhoddy Swire. "We made progress in building aftermarket sales, but some regions, including the UK, are experiencing weaker market conditions. We are concerned about the effect of increasing price competition in the volume sailboat market, in particular in Europe, where the large builders are competing aggressively. While that is good news for consumers and seems to be increasing overall unit sales, it is likely to lead to more pressure on suppliers to reduce prices. On the other hand, the buoyancy of the US economy seems set to balance these factors in the near term."

Glasgow-based Clyde Marine is the parent company of Lewmar and Navtec in the UK.