Print Published 11th Feb 2018, 21:01

Freud group loses £6m on sale of yacht bought from Matthew Freud

Matthew Freud’s high profile public relations group has written off nearly £6 million on selling the yacht Kingdom Come that had been bought from a partnership controlled by Freud himself.

The disposal of the yacht was the principal cause of the £4.1 million loss recorded by Freud’s master company Freud 3.0 in 2016. Freud 3.0 was incorporated to acquire the predecessor parent company Freud (Holdings) in June 2016 (see Piecing together Freud’s 2016 financial jigsaw). Freud is the sole shareholder and director.

The yacht was originally acquired by the Kingdom Come limited partnership, the members of which were Freud and his executive assistant Sarah Eglise.  It cost about £6 million before refurbishment.  In 2015 the yacht-owning partnership was sold on to the Freud (Holdings) group for £12 million, the principal asset being the yacht valued at a similar amount (see Freud buys yacht and sells it to his company).