Company Financials

Grand Banks reports results & plant closure

> , By 2020-09-01T15:59:00

Grand Banks Eastbay 44

The Malaysian luxury boat builder finished its fiscal year 2020 on a strong note with a 30% increase in revenues and fifth consecutive year of profits despite 8 weeks of shutdown and restructuring costs.

Grand Banks Yachts Ltd, producing the Grand Banks and Palm Beach boat brands, announced its results for the company’s 2020 fiscal year, ending 30 June, with a net profit of Singapore $1.1 million, compared to S$1.5 million for fiscal 2019. Revenues for the year rose 29.7% to S$103.2 million, compared to S$79.6m for 2019, due to higher sales or trade-in and stock boats in the second half of the year.  At the same time, the company discussed its outlook and revealed it is closing…

To continue reading, please see our IBI Plus subscription options below for accessing Premium Content.

 
Unlock this article
Unlock this article

Start your 7-day IBI Plus trial for just £1

Start your 7-day trial

Get unrestricted access to all IBI Plus content, including 50,000+ articles, company intelligence and market insight.

With IBI Plus, you can:

  • →Research companies, customers and competitors
  • →Track markets and industry developments
  • →Identify new commercial opportunities
START YOUR 7-DAY TRIAL FOR £1

No commitment — cancel any time.

Already a subscriber? Log in