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Grand Banks Yachts posts 14.6% rise in earnings to $0.4 mil for 2Q

Gwyneth Yeo
Gwyneth Yeo2/10/2017 08:55 AM GMT+08  • 1 min read
Grand Banks Yachts posts 14.6% rise in earnings to $0.4 mil for 2Q
SINGAPORE (Feb 10): Grand Banks Yachts reported earnings of $0.4 million in 2QFY17, a 14.6% improvement over the earnings of $0.3 million in 2QFY16.
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SINGAPORE (Feb 10): Grand Banks Yachts reported earnings of $0.4 million in 2QFY17, a 14.6% improvement over the earnings of $0.3 million in 2QFY16.

In the quarter to December, revenue rose 10.5% to $12.6 million, as its Malaysian yard achieved more boat production hours after its reorganization.

However, gross profit margins fell from 24.6% to 20.9% on the back of the production of new boat models that required more man hours per boat to construct for the first few hulls.

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