Grand Banks Yachts Limited announced unaudited consolidated earnings results for the fourth quarter and year months ended June 30, 2015. For the quarter the company reported revenue of SGD 13,675,000 compared to SGD 13,217,000 a year ago. Loss from operations of SGD 1,983,000 compared to profit from operations of SGD 821,000 a year ago. Loss before taxation of SGD 2,427,000 compared to profit before taxation of SGD 788,000 a year ago. Net loss for the period of SGD 2,443,000 compared to profit for the period of SGD 801,000 a year ago. LBITDA of SGD 1,724,000 compared to EBITDA of SGD 1,196,000 a year ago. Cash flow from operating activities of SGD 1,730,000 compared to SGD 3,263,000 a year ago. Purchase of property, plant and equipment of SGD 1,315,000 compared to SGD 59,000 a year ago. On fully diluted basis loss per ordinary share attributable to shareholders of 1.32 cents compared to profit per ordinary share attributable to shareholders of 0.46 cents a year ago. Net asset value per ordinary share based on existing issued share capital at the end of the respective financial period of 24.34 cents compare to 29.46 cents a year ago.

For the full year the company reported revenue of SGD 39,190,000 compared to SGD 40.349,000 a year ago. Loss from operations of SGD 4,736,000 compared to profit from operations of SGD 1,299,000 a year ago. Loss before taxation of SGD 4,538,000 compared to profit before taxation of SGD 1,042,000 a year ago. Net loss for the period of SGD 4,799,000 compared to profit for the period of SGD 1,033,000 a year ago. LBITDA of SGD 1,958,000 compared to EBITDA of SGD 2,757,000 a year ago. Cash flow from operating activities of SGD 2,665,000 compared to SGD 1,498,000 a year ago. Purchase of property, plant and equipment of SGD 3,031,000 compared to SGD 922,000 a year ago. On fully diluted basis loss per ordinary share attributable to shareholders of 2.62 cents compared to profit per ordinary share attributable to shareholders of 0.66 cents a year ago. Net asset value per ordinary share based on existing issued share capital at the end of the respective financial period of 22.54 cents compare to 23.66 cents a year ago.

For the quarter, the company reported property, plant and equipment written off of SGD 11,000 compared to SGD 6,000 a year ago.