Grand Banks Yachts' net profit up 95% YoY to $5.4m in Q1 FY25

It also reported improved revenue.

Mainboard-listed Grand Banks Yachts' net profit surged 95% YoY to $5.4m in Q1 FY2025.

It also recorded a higher revenue and gross profit in Q1.

Revenue rose 29.1% YoY to $40m in Q125, boosted by the resale of a previously cancelled boat contract.

Meanwhile, gross profit rose 29.2% YoY to $13.1m due to improved operational efficiency at its manufacturing yard in Pasir Gudang, Johor, Malaysia.

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