Grand Banks Yachts last week announced the financial results for the first half of its 2026 fiscal year.
Revenue increased 6% to SGD$71.4 million ($56.6 million) for the six months ended Dec. 31. The builder also reported an order book of $SGD144.7 million ($114.62 million).
Gross profit during the half was SGD$17.54 million ($13.9 million), which was down 19.3% from the same period a year earlier. The company stated in a press release that this was due to a higher proportion of lower-margin trade-in/preowned boats delivered, as well as less favorable currency exchange rates during the period.
“We recorded an encouraging first half, as we continue to secure new orders and grow our sales pipeline,” CEO Mark Richards said in the statement. “We have upgraded and expanded our yard in Pasir Gudang, as well as our footprint across the USA, including our flagship marina at Newport. This year has been one of the most significant in the company’s history as we further strengthen our business foundation whilst ensuring we are well-positioned to capture new business opportunities and enhance our brands’ awareness globally.”
