Fairline Boats reports return to profitabilityPosted on
British builder Fairline Boats has returned to profitability after three years of consecutive losses, attributed in part to investment in its manufacturing facility and new models.
During the last 12 months, the business has invested 2.8 million pounds in its manufacturing facility in Corby. The investment sees Fairline move from eight single model lines to three mixed-model assembly lines, as well as creating industry-leading dedicated centers of excellence for molding and furniture production. Fairline said the changes enable the company to achieve increased flexibility in its production processes and greater operational efficiency while maintaining an enviable reputation for quality and craftsmanship.
The company also announced improved productivity and a reduced cost base. Fairline said the results follow a one-year program of manufacturing change and demonstrate the success of a turnaround program under the ownership of Better Capital and RBS.
The builder has also made a concerted push to market in North America.
In 2013, further investment will be channeled into product development, including the launch of the Targa 48 Open in June, the Squadron 48 and the Targa 48 Gran Tuismo, all of which the company said are already forward-sold until 2014. Further new models are in development, and the company said details will be released later this year.