Grand Banks Yachts Reports Surge in FY21 Profit on Luxury Boat Demand; Shares Jump 5%
Grand Banks Yachts Reports Surge in FY21 Profit on Luxury Boat Demand; Shares Jump 5%Grand Banks Yachts报告21财年豪华游艇需求利润飙升；股价跃升5%
02:47 AM EDT, 08/27/2021 (MT Newswires) -- Grand Banks Yachts' (SGX:G50) profit attributable to owners soared 300.5% to SG$4.2 million ($3.1 million) in the fiscal year ended June 30 from SG$1.1 million a year ago as the pandemic drove strong demand for luxury, higher-margin boats in the US, despite production halts in Malaysia.
Revenue of the builder of Grand Banks, Eastbay and Palm Beach boats, however, declined 6.9% to SG$96.1 million from SG$103.2 million. The decrease stemmed from several production halts at its yard in Pasir Gudang, Malaysia, in compliance with the government's coronavirus-led movement control orders, as per a Friday release.
The board recommended a final cash dividend of SG$0.005 per share.
Price (SGD): S$0.29, Change: S$0.02, Percent Change: +5.45%
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