Grand Banks Yachts Limited announced unaudited group earnings results for the third quarter and nine months ended March 31, 2017. For the quarter, the company reported revenue of SGD 13,192,000 compared with SGD 17,257,000 for the same period a year ago. Loss from operations was SGD 629,000 compared with profit from operations of SGD 162,000 for the same period a year ago. Loss before tax was SGD 1,276,000 compared with profit before tax of SGD 153,000 for the same period a year ago. Net loss was SGD 1,109,000 compared with net profit of SGD 375,000 for the same period a year ago. Cash flows used in operating activities was SGD 1,550,000 compared with SGD 3,045,000 for the same period a year ago. Purchase of property, plant and equipment was SGD 1,473,000 compared with SGD 1,759,000 for the same period a year ago. The lower revenue was primarily due to a boat swap resulting in a reversal of revenues to reflect the different construction stages of the two boats. For the nine months, the company reported revenue of SGD 38,800,000 compared with SGD 42,689,000 for the same period a year ago. Loss from operations was SGD 582,000 compared with profit from operations of SGD 1,794,000 for the same period a year ago. Loss before tax was SGD 1,156,000 compared with profit before tax of SGD 2,279,000 for the same period a year ago. Net loss was SGD 491,000 compared with net profit of SGD 1,963,000 for the same period a year ago. Cash flows used in operating activities was SGD 1,683,000 compared with cash flows from operating activities of SGD 1,523,000 for the same period a year ago. Purchase of property, plant and equipment was SGD 3,948,000 compared with SGD 4,732,000 for the same period a year ago.