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Grand Banks Yachts posts 62.4% rise in 2Q earnings to $0.7 mil

Stanislaus Jude Chan
Stanislaus Jude Chan2/8/2018 05:49 PM GMT+08  • 2 min read
Grand Banks Yachts posts 62.4% rise in 2Q earnings to $0.7 mil
SINGAPORE (Feb 8) Grand Banks Yachts saw its net profit swell 62.4% to $677,000 for the 2Q ended December, from $417,000 a year ago.
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SINGAPORE (Feb 8) Grand Banks Yachts saw its net profit swell 62.4% to $677,000 for the 2Q ended December, from $417,000 a year ago.

2Q18 revenue surged 61.8% to $20.3 million, from $12.6 million a year ago.

This was driven by the sale of two inventory boats and one trade-in inventory boat, as well as a higher number of yachts reaching construction milestones for revenue recognition.

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