Growth at Grand Harbour Marina

Grand Harbour Marina plc registered a 27.5 per cent growth in its operational income last year. This figure stood at €1.47 million, compared to €1.15 million registered in the previous year.

The profit was significantly lower than in 2007, the reason being this was a truly exceptional year in terms of berth sales. Last year started strongly with two 30-metre berth sales, but owners were more cautious during the second half of the year due to the international economic climate.

Chairman Lawrence Zammit said, "The management role of Camper and Nicholsons has contributed greatly to establishing the marina as one of the Mediterranean's leading yachting destinations. At the same time, this has also had a significant impact on Malta's target of becoming a centre of excellence in the yachting sector."

General manager Ben Stuart said the Camper and Nicholsons brand was key to maintaining the marina's attractiveness to yacht and superyacht owners. He added that GHM also noted the forthcoming privatisation of the government marinas and is positive about the possibility of future developments in this sector.

"GHM takes pride in being associated with the regeneration of Malta's yachting facilities," he said.

In terms of operations, the marina continues to enjoy full occupancy on the pontoon berths, the ultimate aim being to maintain profitability and cash generation at operational level.

To achieve that, GHM has over the past year continued to expand its operations, including completion of the improvements to the mooring system at Xatt ir-Risq. Four floating pontoons were placed in the water and supplied with utilities, creating an additional 23 berths.

These were offered on a seasonal basis and have been occupied since installation.

GHM is also focusing its efforts on the landscaping of the Xatt ir-Risq area to ensure that location matches standards. This is being done through close collaboration with the government and local councils. GHM has continued to work closely with important stakeholders to further contribute to the regeneration of the three cities area.

Camper and Nicholsons Marina Investments Ltd have a 79 per cent shareholding in GHM plc.