Gross profit increased by 88.3% y-o-y to $14.1 million in line with the higher revenue.
Grand Banks Yachts (SGX:G50
) has reported earnings of $3.6 million for the 1HFY2023 ended Dec 31, 2022, reversing from its $694,000 loss for the same period the year before.
1HFY2023 revenue increased by 48.7% y-o-y to $50.2 million due to the low base in the 1HFY2022, which saw a two-and-a-half-month suspension in operations at its manufacturing facility in Johor’s Pasir Gudang. The suspension was due to the movement control order (MCO) imposed by the Malaysian government in a bid to curb the spread of the pandemic.
