New models from Sunseeker

Sunseeker CEO's strategic plan includes several new models

Sunseeker is to double its range to 22 models over the next three years.

The announcement was made by newly appointee CEO Andrea Frabetti as part of his product development plan for the boatbuilder.

The plan also focuses on further developing the framework for the business and driving the Sunseeker brand forward, aided by a £50m CAPEX investment across five years.

“These new models will include new product segments as well as improved differentiation between various lines,” explained Andrea. “To enable this, we are actively developing our existing footprint as well as seeking new facilities and partnership opportunities.”

Sean Robertson, sales director, added: “New and exciting products breed growth in this market and the response we have received for our latest models has been nothing short of incredible.

“We are confident this is going to continue as we are making a considerable investment across the business to support a bold product development plan.”

Positive financials

In addition to the new product announcement, CFO Mike McMillan has highlighted the anticipated positive financial results for the 2018 year.

“Sunseeker’s Group revenue continues to rise but much more importantly, gross profit has increased by over a third due to a significant improvement in gross margins and consequently there has been substantial growth in retained profits,” he said. “Most encouraging is the progression of our underlying business results which is encouraging and a credit to the Sunseeker team.”

A new strategic committee was announced earlier in the month consisting of the CEO, CFO and chief operations officer Michael Straughan.

The committee will continue to work alongside executive colleagues Adrian Powell, Sean Robertson and Sian Dodds.

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