Market News – Page 351
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NewsAustralian BIA restructures to cope with changing market conditions
Australia’s Boating Industry Association (BIA) has undertaken a restructuring of its organisation in order for it to respond to Covid-19 disruptions and the changing business and consumer needs.
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NewsHong Kong Yacht Show to proceed using new format in a strong market
Despite the announcement on October 14th that the Hong Kong Yacht Show (HKYS) is postponed until October 2021, as reported by IBI two weeks ago, it transpires that the show will still proceed in a different format under the management of local Hong Kong partner, the Hong Kong Cruise and ...
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NewsThird quarter brings mixed bag for Xylem
Xylem Inc released its third-quarter financial results on Thursday, reporting overall revenues of US$1.22bn for the period and marking a 6% year-over-year decline from the $1.29bn reported for the third quarter of 2019.
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NewsFLIBS opens to smaller crowds
The first day of the 61st annual Fort Lauderdale International Boat Show (FLIBS), unsurprisingly, saw smaller crowds, which were welcomed with a mandatory mask policy and other safety measures that included a limited crowd capacity at the show aimed at holding a large international event in the midst of a ...
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NewsKVH posts strong Q3 results
Gains in both product and mobile connectivity service sales drive “strongest Q3 in years”
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NewsMiami and eight other NMMA winter shows cancelled
America’s National Marine Manufacturers Association (NMMA) has announced altered plans for its roster of boat shows scheduled for the first three months of 2021, including cancellation of the bellweather Miami International Boat Show
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NewsGarmin record Q3 results buoyed by strong marine sales
Marine segment posts 54% YOY revenue growth, 152% increase in operating income
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NewsMarineMax posts record Q4 and year-end results
America’s mega boat and yacht retailer group, MarineMax, achieved the company’s highest ever revenue and earnings for the fourth quarter and year-ended September 30, making it one of the industry’s largest companies.
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NewsUK RIB manufacturer sold to British entrepreneur
Ribcraft UK, based in Yeovil, Somerset, has been bought by UK entrepreneur Toby Adams and looks set to expand on the success it has already enjoyed in growing governmental, military and securities sectors as well as placing a larger emphasis on environmental sustainability.
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NewsSurprise Q3 results for Marine Products Corporation
Marine Products Corporation, makers of Chaparral, Robolo and Vortex boats, surprised Wall Street with its third quarter results that saw a nearly 10.5% reduction in unit sales and a 4.8% drop in sales revenue reported at US$68.7m.
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NewsVanquish Yachts secures 35m superyacht order from US client
Vanquish COO Sander Mars: “US clients are getting used to aluminium” Since its founding in 2012, Vanquish Yachts has built fast luxury dayboats at a blistering pace. It’s a tale of peerless success: the Dutch maker of aluminium tenders and day cruisers just scored an order for ...
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NewsHubbell feels Covid pinch in 2020 Q3 results
Declines in net sales, gross profits and net profits point to continued uncertainty in the power market
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NewsCroatian nautical sector seeks government financial support
A 50% drop in yacht arrivals and a 65% revenue loss from the reduced traffic has Croatia’s growing marina and nautical sector stalled and seeking some additional job support funding, according to the Croatian Chamber of Commerce (HGK).
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NewsBetter than forecast results for Groupe Beneteau
The multi-brand French boatbuilder said the company is benefiting from its global, multi-segment positioning against the adverse environment of Covid 19
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NewsStrong boat sales float Q3 earnings for Polaris
Boat division leads all other segments with 30% YOY sales jump to drive higher overall earnings, profits
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NewsCummins’ North American sales decline, international sales stable
Cummins Inc closed its third quarter with revenues down 11% to US$5.1bn from last year, led by an 18% drop in North American sales while international revenues were flat.
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NewsCaterpillar crawls through rough third quarter
Caterpillar Inc has announced third-quarter earnings that are down across the board, led by lower end-user demand. The Deerfield, Illinois-based Cat reports sales and revenue of US$9.9bn, a 23% decline from Q3 2019. Profit per share was down 54% at US$1.22, while operating profit margin dropped nearly 6 points to ...
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NewsBiograd Boat Show reports better than expected results
The 22nd edition of the Biograd Boat Show, held from October 21-25 at Marina Kornati in southern Croatia and organised and hosted by Ilirija d.d, presented an outcome which in the view of many exhibitors and the organisers had been ”better than expected”.
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NewsDanfoss to power Bangkok fleet of electric ferries
Some 27 zero-emission passenger ferries will soon replace aging diesels on Bangkok’s Chao Phraya River in a bid to improve air quality and clean up the water supply in the Thai capital.
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NewsCamper & Nicholsons names new sales advisor
Benjamin Bensahel is based at the company’s Monaco office
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