Grand Banks Yachts Reports Stellar Profit Growth

Grand Banks Yachts (SG:G50) has released an update.

Grand Banks Yachts Limited has reported a significant net profit increase of 92.8% to S$10.9 million for the nine months ending March 2024, reaching a multi-year high, with a substantial growth in revenue and gross profit margin. The company experienced a 20.7% revenue increase and improved gross profit margins from 28.3% to 38.0%, thanks to accelerated boat-building activities and increased orders. Despite potential economic headwinds, the luxury yacht builder is expanding its manufacturing capacity and remains focused on maintaining a robust order book.

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