Grand Banks Yachts' record book hits ten-year high

SINGAPORE (Feb 13): Grand Banks Yachts has reported that earnings for its Q2FY2020 increased by 329.8% y-o-y to $361,000. Revenue in the same period increased by 10.1% to $19 million.
The company’s order book, as at Dec 31 2019, has reached a ten-year-high of $63.9 million. This came about after it sold ten boats of a newer model.
“The market has been hungry for Grand Banks models, and this is evident from the growing order book,” says CEO Mark Richards.
“We have comfortably met the growing production requirements through our revamp of Pasir Gudang and the gradual hiring of additional production staff,” he adds.
Year to date, Grands Banks Yachts shares dropped 17.2% to close at 24 cents on Feb 13.