Grand Banks Yachts Limited announced un-audited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported revenue of SGD 11.386 million compared to SGD 12.678 million a year ago. Profit from operations was SGD 0.321 million compared to SGD 0.259 million a year ago. Profit before tax was SGD 0.113 million compared to SGD 0.393 million a year ago. Net profit for the period was SGD 0.364 compared to SGD 0.058 million a year ago. EBITDA was SGD 0.935 million against SGD 1.153 million a year ago. Cash flows from operating activities were SGD 3.147 million against SGD 3.188 million a year ago. Purchase of property, plant and equipment was SGD 1.604 million against SGD 0.284 million a year ago. On a fully diluted basis, earnings per share were 0.20 cents against 0.03 cents a year ago. Net asset value per ordinary share was 24.36 cents as on December 31, 2015 against 24.34 cents as on June 30, 2015.

For the six months, the company reported revenue of SGD 25.432 million compared to SGD 19.195 million a year ago. Profit from operations was SGD 1.632 million compared to loss from operations of SGD 1.265 million a year ago. Profit before tax was SGD 2.126 million compared to loss before tax of SGD 0.944 million a year ago. Net profit for the period was SGD 1.588 compared to net loss of SGD 1.212 million a year ago. EBITDA was SGD 3.554 million against SGD 0.400 million a year ago. Cash flows from operating activities were SGD 4.568 million against cash flows used in operating activities of SGD 0.065 million a year ago. Purchase of property, plant and equipment was SGD 2.973 million against SGD 1.302 million a year ago. On a fully diluted basis, earnings per share were 0.86 cents against loss per share of 0.67 cents a year ago.