Revenue grew 63.6% over the quarter to $21.3 million from $13 million previously, driven by the sale of three traded-in boats and an inventory boat over the quarter, as well as more yachts reaching construction milestones for revenue recognition over the period under review.
SINGAPORE (Nov 13): Grand Banks Yachts announced a net profit of $0.62 million for 1Q18, trebling from its earnings of $0.2 million posted in 1Q17.
In a Monday regulatory filing, the manufacturer and retailer of luxury motor yachts says its surge in net profit was driven by yachts sales and operational improvements, even as it reported fresh orders for new designs.
