Mallorca-based refit and repair specialists Palmawatch has announced a 21% increase in sales in 2015 after signing off accounts for the last financial year.
The announcement comes against a background of strengthening activity in the leisure marine sector in Spain. According to Margarita Dahlberg, president of the Balearic Nautical Business Association (AENIB), activity in the Balearics outperformed the rest of Spain with sector growth of 15% in 2015.
The relaxation of the punitive ‘matriculation tax’ on commercial charter yachts has seen a return of many more superyachts into Balearic waters.
Palmawatch is based inside the STP superyacht repair and refit yard in Palma, which has been completely full this winter.
Palmawatch MD Pierre Oberon is advising clients to book ahead for the 2016/17 refit season, . “We like to plan ahead and get our project yachts chocked as close as possible to our workshops,” he says.
The handling and administrating of over 20% more work was well met by the Palmawatch team, says Oberon, adding that he expects a similar increase in 2016.
Palmawatch has been offering full maintenance, repair, refit and gardienage services since 2002. The company is one of the premier yacht service providers in the region.