Yacht industry is weathering crisis

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Deuxmil surged ahead with a 158% lift in net profit to £1.5 million on turnover of £16.6 million.

It recently acquired Monaco-based yacht services company YCO SAM, catering to some the biggest yachts in the Mediterranean.

Its fuel sales revenue is up 40% compared with last year, and its sales and charter business has more than doubled on the same period last year with a record level of superyachts under management and construction.

The result comes as Ferretti prepares to f loat on the Milan Stock Exchange, where the company, which was founded in the 1960s, could be valued at as much as €3 billion (£2.36 billion).