Yacht firm launches new models

PLYMOUTH luxury boatbuilder Princess Yachts has revealed a stunning selection of new models as the company bounces back into profit.

- By WILLIAM TELFORD

The Princess F54 is set to replace the award-winning F50

The Stonehouse-based manufacturer chose this month's famous Cannes Yachting Festival, in France, to show off vessels including giving a world premiere for the new V65.

It came as the company’s turnaround plan bore fruit, with it this month reporting a profit of more than £4.9m for 2024 after making a £23m loss the previous year amid “challenging market conditions”.

Accounts filed at Companies House by Mayflower Bidco Ltd, the holding company which controls four key active subsidiaries including manufacturing and sales companies in Hong Kong and the USA, show it saw revenue rise by more than £100m to £378m.

Earnings before interest, tax, depreciation and amortisation (EBITDA), akey metric for the company, jumped to £34.5m from £6.8m a year earlier.

The company, seen as the leading manufacturer of 40ft to 100ft yachts, put the success down to a turnaround plan which saw 240 production staff lose their jobs and total headcount fall to 2,889 from 3,146.

The company, Britain's largest luxury boat maker, also responded with new models, and used the recent Cannes event, one of the world’s main boat shows, with nearly 700 on display. The show is based in the two ports of Cannes: the Vieux Port and the Port Canto, and attracts 55,000 visitors, 640 exhibitors and 665 journalists.

Here are some of Princess Yachts’ stylish new vessels:

The latest addition to the V Class range, the all-new Princess V65 made its global premiere at the 2025 Cannes Yachting Festival. Designed for owners who value performance as much as luxury, the V65 has sleek styling, exhilarating handling, spacious comfort, and intuitive technology.