A rebounding U.S. market and more lead to the first quarterly profit since 2009.
January 31, 2014
Grand Banks Yachts recently posted its first quarterly profit since 2009, with earnings of $269,000 in its second quarter that ended December 31, 2013.
The builder cites an improving U.S. market for luxury boats along with its internal efforts to improve sales and efficiency. Revenue rose 42 percent to $9.5 million during the quarter, and costs were lower than they have been in four and a half years.
During the same quarter a year earlier, Grand Banks showed a loss of $777,000, according to the The Straits Times, which covers companies listed on the Singapore market.
See what Grand Banks is working on next at www.grandbanks.com.