Gross profit increased by 67.1% y-o-y to $22.1 million as operations resumed. The higher gross profit was also due to the higher boat prices on the back of higher costs. Accordingly, gross profit margin for the 9MFY2023 increased to 28.3% from 24.1% a year ago.
Grand Banks Yachts (SGX:G50
) has reported earnings of $5.7 million for the 9MFY2023 ended March 31, up from the $0.1 million earnings in the corresponding period the year before. The nine-month net profit is the highest in over a decade and surpasses the company’s pre-Covid-19 levels.
Revenue grew by 42.1% y-o-y to $78.0 million as boat-building activities grew, underscoring a strong recovery from the impact of Covid-19-related disruptions in the year before.
