Palma watch 21% revenue increase in 2015.

Reporting on his company’s progress after signing off on accounts for the last financial year, Pierre Oberon, Managing Director of Mallorca based refit and repair specialists Palma watch S.L has announced a gross sales increase of 21% over and above the 2014 result.

This comes against a background of strengthening activity in the leisure marine sector in Spain, and particularly in the Balearics, which has out-performed the rest of the regions with a growth in the sector of 15% during 2015 according to Margarita Dahlberg, who is president of the Balearic Nautical Business Association. (AENIB)

There is no doubt that this has been boosted by the relaxation of the punitive ‘matriculation tax’ on commercial charter yachts which has seen a return of many more super yachts into Balearic waters. Palma watch is based right inside the STP repair and refit yard in Palma, which has been completely full this winter. Oberon is already advising his clients to book ahead for the 2016/17refit season, and is taking bookings from September onwards. ‘We like to plan aheadand get our project yachts chocked as close as possible to our workshops” he said.

The challenge of handling and administrating over 20% more work was well met by the Palma watch team, and the management is confident that a similar increase can be efficiently accommodated with full attention to quality in 2016.

An intense but successful recruitment drive during the summer led to several key appointments to the Palma watch team which has further strengthened their capacity across all disciplines including project management, engineering and financial/admin departments.

Now with its own in-house Shipwrights and Metal works Departments, Palma watch are able to directly control projects requiring traditional workmanship skills such as teak decking and stainless steel fabrication to the highest quality standards.

With the busiest period for antifouling application about to kick off in in the Med, Palma watch are also geared up with a well-experienced painting team who completed a large number of coating projects for satisfied clients during 2015.