Grand Banks Yachts said accelerated construction of new boats increased revenue for the six months ended June 30 by 7.1%, to S$101.8 million ($80 million), up from S$95.1 million ($75 million) in fiscal year 2025. On a full-year basis, revenue rose 6.7% to S$173.2 million ($136 million) from S$162.3 million ($127.3 million).
Gross profit for the second half of fiscal year 2026 rose to S$30.6 million ($24 million) from S$26.7 million ($21 million) in 2025, with gross profit margin improving to 30% from 28.1% mainly due to a higher proportion of higher-margin, build-to-order boat sales. For fiscal year 2026, gross profit stood at S$48.1 million ($38 million) compared with S$48.5 million ($38.1 million) in 2025, mainly due to the sale of several trade-in and preowned boats, along with unfavorable foreign exchange movements experienced during the year. Gross profit margin for 2026 declined to 27.8% from 29.9% in 2025.
“In FY2025 and FY2026, we took bold decisions to expand our manufacturing in Malaysia and build our presence in the U.S.A., our biggest market, with the acquisition and upgrade of the Newport marina,” Grand Banks chairman Basil Chan said in a press release. “We also elevated our global branding with the acquisition of Palm Beach XI, which will also provide the platform for technology enhancements. These are long-term strategic investments that will take us to the next level of our global ambitions.”
Added CEO Mark Richards: “Our focus in FY2026 was to build on the transformational foundation established in FY2025 and complete a deliberate, two-year asset growth and investment strategy designed to position the group at the forefront of the global luxury yacht-manufacturing market.”
Looking forward, the company said that demand remains resilient in the United States, the group’s primary market, while “encouraging early signs of recovery are evident in Europe, despite challenges such as geopolitical uncertainty, higher fuel costs, inflation, supply-chain disruption, and the evolving U.S. tariff environment.”
Sales inquiries and new-order activity has been strong into the first quarter of fiscal year 2027, with six contracts signed and several under negotiation, the company said.
