Princess Yachts, a luxury yacht maker based in Plymouth, U.K., said its retail sales rate had increased 25 percent over the past year, thanks largely to the decline in the British pound after the U.K. voted to leave the EU.
"Brexit has given many of our customers to buy at a more favorable price in their local currency," Antony Sheriff, executive chairman of Princess Yachts told CNBC while at the Singapore Yacht Show. "But we don't count on that. We assume exchange rates at some point will even out."
Princess Yachts says its production is entirely conducted in and around Plymouth, while competitors use a variety of global suppliers. The domestic production, coupled with the majority of its buyers being outside the U.K., has made for a beneficial combination. The pound is down about 17 percent against the dollar since the U.K. voted to leave the E.U.
The majority of buyers of Princess Yachts come from Europe and the U.S., meaning the prices are now very attractive.