Grand Banks Yachts, the Mainboard-listed builder of the prestigious Grand Banks, Eastbay and Palm Beach boats, has reported a net profit after tax (NPAT) of $1.1 million for the 1QFY2023 ended Sept 30.
In contrast, the group reported a net loss of $4.2 million in the corresponding period the year before.
According to the group, the reversal into profitability is mainly attributed to the group’s revenue, which surged 94.3% y-o-y to $22.4 million.
