CEO Richard Hubbell attributes growth to a model mix of larger boats and an optimistic dealer base
Marine Products Corp (MPC), parent company of the Chaparral and Robalo boat brands, has reported third-quarter sales up 21.6% over the same period a year ago.
The company said in a statement that net income rose nearly 57% on a 7.9% increase in units sold and a 12.6% increase in the average selling price per boat.
Richard Hubbell, MPC president and CEO, said third-quarter sales reflected a model mix of larger boats and an optimistic dealer base.
“Unit sales of most of our product lines increased, including sales of our sterndrive models, which increased in contrast to the overall weakness of the recreational boating segment,” Hubbell said in the statement.
“Our order backlog at the end of the third quarter was higher than the same period last year, [and] dealer inventories were relatively unchanged, reflecting strong retail sales levels.”