Grand Banks Yachts’ net profit more than doubles in FY2024

Earnings per share stood at $0.1158.

Grand Banks Yachts reported a 111.5% surge in net profit in FY2024 to $21.4m from $10.1m a year ago.

Revenue for the period rose 17.1% to $133.7m from $114.2m in FY2023.

The increase was due to the increased production activities at its boat-building facility in Pasir Gudang in Malaysia, which shortened delivery times.

Earnings per share stood at $0.1158 from $0.0547 in FY2023.

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