However, total operating expenses surged to $9.9 million from $9 million in FY16, due mainly to higher broker commission fees, boat show expenses, and consultancy marketing fees.
SINGAPORE (Aug 28): Grand Banks Yachts, the manufacturer and retailer of luxury motor yachts, has announced a net profit of $0.5 million for the full year ended June, representing a 73.6% decline from its $2 million in earnings for FY16 on a surge in expenses.
FY17 evenue remained stable at $58.7 million, relatively unchanged from a year ago as the group was impacted than longer-than-expected delivery time for the first Grand Banks 60 yacht.
