The UK leisure, superyacht and small commercial marine industry is riding the crest of a wave, posting revenues not seen since before the financial crash, according to a report released at this week’s London Boat Show.

Industry revenues rose 1.6 per cent to £3.01 billion in the year to April 2016 which is the first time that sales figures breached £3 billion since the economic crash of 2008-2009, said British Marine.

Revenue in the South East has grown by more than £99 million in the last 12 months - an upturn which has seen the creation of 1,475 jobs.

In 2015/16 industry revenues in the South East grew from £868.46 million in 2014/15 to £966 million in 2015/16 The South East makes up 32.1 per cent of the industry revenue across the UK and employs almost 9,500 people.

The figures are supported by British Marine’s bi-annual Industry Trends which showed that after a bout of post-Brexit gloom optimism in the sector has returned with net positive confidence rating of +10 percent posted at the end of 2016.

That was driven by an 8.8 per cent rise in engines and equipment manufacturing revenues to £335 million, and a 6.8 per cent jump in hire, passenger and charter boats to £351 million.

Meanwhile, marinas and moorings revenues increased by 3.6 per cent to £222 million, while business support services – which include financial services, design, engineering, marketing and IT – rose 2.7 per cent to £145 million.

British Marine chief executive Howard Pridding said: “The industry remains robust - revenue is growing and we are taking on more employees.

“Despite the post-referendum volatility impacting on business and consumer confidence, the industry remains bullish and keen to take advantage of the short and medium-term opportunities that lie ahead.”

The fall of the pound against the euro since the EU referendum has seen a sharp rise in the cost of manufacturing costs but this has been outweighed by benefit from sterling’s depreciation which has made British products cheaper for foreign buyers.

British Marine and its members have recently met the Department for International Trade to discuss what support government can give the industry. The message from exporters was that while Europe is and will remain significant, businesses are exporting to many other markets and need government backing to take advantage of opportunities to trade with the likes of China and North America.

Mr Pridding said: “Our members’ greatest long-term concern is uncertainty and we will continue to work closely with Government to ensure the sector is given as much backing as possible as the Brexit negotiations begin.

“Access to the single market is, of course, important but member companies are keen to minimise tariff and non-tariff barriers.

“Members are also keen to maintain access to skilled workers from across the EU and the Government needs to do all it can to make sure that any future immigration policy with the EU supports marine businesses that are ambitious to grow and export.”