Rodriguez Group reports 11 per cent sales drop for first half of year
By IBI Magazine
The Rodriguez Group reported that its sales for the first half of the year ended March 31, 2008, dropped by 11.9 per cent to €177 million compared to the same period a year ago. A statement noted that a steep decline in used-boat sales caused the drop in overall sales. The company said that its new yacht sales were down by 1.8 per cent for the first half of the year to €136.6 million, compared to €138.5 million last year. Its Pre-Owned Yacht sales declined by 56.1 per cent to €19.1 million, compared to €43.5 million in 2006/2007. The statement said some brokerage customers adopted a "wait and see" policy. The company's Yacht Services and Merchandise division produced higher sales of €21.9 million, compared to €18.9 million in 2006/2007. The statement also noted that its year-over-year sales order backlog rose by 8 per cent to €542 million. The company said it will maintain its 2007/2008 full-year new yacht sales objective of €320 million. "The Group is confident in the successful rollout and beneficial impacts of the New Strategy over the coming months," read the statement.
(16 May 2008)
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