Grand Banks Yachts Limited reported unaudited consolidated earnings results for the first quarter ended September 30, 2017. For the quarter, the company reported revenue of SGD 21,318,000 against SGD 13,032,000 a year ago. Profit from operations was SGD 631,000 against loss of SGD 147,000 a year ago. Profit before tax was SGD 573,000 against SGD 38,000 a year ago. Net profit for the period was SGD 619,000 against SGD 201,000 a year ago, driven by yacht sales and operational improvements, even as it reported fresh orders for new designs. Cash flows used in operating activities were SGD 1,917,000 against cash flows from operating activities of SGD 3,496,000 a year ago. Purchase of property, plant and equipment was SGD 1,648,000 against SGD 1,108,000 a year ago. Fully diluted earnings per share were 0.33 cents against 0.11 cents a year ago. Net asset value per ordinary share as at September 30, 2017 was 24.94 cents.