New Financial Year Looking Positive for Maritimo

Gold Coast based luxury cruiser manufacturer, Maritimo, finished the financial year on firm ground and is confident that the slowly improving US export market will continue to gain momentum in 2012/13.

The company has undergone a restructure in the past 12 months that has seen several key executive appointments made, a review of the range of models on offer undertaken, and the release of several new flybridge cruisers and sports yachts that have already achieved international success.

Success at the Sanctuary Cove International Boat Show in May is hoped to be duplicated at the Sydney International Boat Show where Maritimo will display six vessels. It will release for the first time the M45 flybridge cruiser which has already generated strong enquiry.

Other boats on display will be the M48, the M58 and the Mustang range including the 32, the new 43 and the Mustang 50.

Company founder Bill Barry Cotter said Maritimo was well placed to capitalize on improving conditions internationally. “The strong Australian dollar does nothing to assist exporters, but our new models and strategic marketing strategies are helping to offset that negative,” he said.

“We have reviewed all our operations and thinking to do things smarter and our range of new models represent the most carefully considered, designed and manufactured vessels we have ever produced.”

During the past 12 months Maritimo has exported vessels to Korea, Mexico, the USA and Seychelles.

In addition demand for Maritimo and Mustang vessels locally has been steady, particularly for the new models that have been released.

Maritimo has also recently finalized an agreement with Spencer Ship, a major marine distribution company based in Monaco, Europe, which will see the brand promoted throughout Europe, the Middle East, Asia and Africa.

Maritimo’s CEO, Garth Corbitt, said this initiative combined with the strong USA dealer network would produce results as the international economic conditions improved.

In relation to new models he said the M58 flybridge cruiser and the Mustang 43 Sports Yacht had been extremely well received by the market. He said the new  M45, being unveiled in Sydney was set to be a stand out model with two vessels selling before the first one was produced.

“We achieved significant sales success at the recent Sanctuary Cove International Boat Show with 12 orders and we hope that momentum will be maintained at this month’s boat show in Sydney,” he said.

“The market conditions continue to be challenging, but we are meeting the challenge head-on and looking forward to the coming financial year,” said Durman.