Grand Banks Yachts' Attributable Profit Zooms 123%; Shares Surge 17%

MT Newswires08-29

Grand Banks Yachts (SGX:G50) booked a 123% year over year growth in its profit attributable to owners of SG$14.5 million for six months ended June 30, from SG$6.5 million a year earlier, according to a filing with the Singapore Exchange on Wednesday.

Earnings per share came in at SG$0.0769 per share from SG$0.0351 per share in the year-ago period.

The luxury yacht manufacturer's revenue was up 7% year-over-year to SG$68.6 million from SG$64.0 million, driven by higher production activities.

The board proposed a final cash dividend of SG$0.001 per share for the year ended June 30.

Shares of the company zoomed nearly 18% in recent trading.

Price (SGD): S$0.47, Change: S$+0.070, Percent Change: +17.72%

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