Grand Banks Yachts Limited reported un-audited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported revenue of SGD 12.7 million compared to SGD 9.5 million a year ago. Profit from operations of SGD 0.259 million compared to SGD 0.352 million a year ago. Profit before taxation of SGD 0.393 million compared to SGD 0.289 million a year ago. Net profit was SGD 58,000 or 0.03 cents per diluted share compared to SGD 0.269 million or 0.17 cents per diluted share for the last year a year ago. EBITDA was SGD 1.156 million against SGD 0.674 million a year ago. Cash from operations was SGD 3.188 million against cash used in operations of SGD 0.127 million a year ago. Purchase of property, plant and equipment was SGD 284,000 against SGD 267,000 a year ago.

For the six months, the company reported revenue of SGD 19.2 million compared to SGD 19.0 million a year ago. Loss from operations of SGD 1.265 million compared to SGD 53,000 a year ago. Loss before taxation of SGD 0.944 million compared to SGD 0.273 million a year ago. Net loss was SGD 1.2 million or 0.67 cents per diluted share compared to SGD 0.3 million or 0.22 cents per diluted share for the last year. EBITDA was SGD 0.393 million against SGD 0.524 million a year ago. Cash used in operations was SGD 65,000 against cash from operations of SGD 471,000 a year ago. Purchase of property, plant and equipment was SGD 1,302,000 against SGD 685,000 a year ago.