Grand Banks Yachts (G50) H1 2026 earnings summary

Executive summary

• H1 FY2026 revenue rose 6.2% YoY to S$71.364m, while profit after tax fell 61.2% to S$2.938m amid margin pressure and higher costs.

• Net order book was S$144.7m at 31 Dec 2025, down from S$156.6m at 30 Jun 2025.

• An interim dividend of 0.5 Singapore cent per ordinary share was declared, payable 27 Mar 2026; books close 13 Mar 2026.

Financial highlights

• Revenue was S$71.364m versus S$67.200m YoY; gross profit declined 19.3% to S$17.536m from S$21.743m.

• Gross margin fell to 24.6% from 32.4%; operating expenses rose 15.7% to S$12.447m and finance costs increased to S$0.8m from S$0.3m.

• Profit before tax fell 60.4% to S$4.519m; profit after tax was S$2.938m versus S$7.6m.

• EPS was 1.57 cents basic and 1.54 cents diluted, versus 4.05 cents and 3.96 cents, respectively, in H1 FY2025.

• Total comprehensive income was S$5.5m versus S$9.3m.

Outlook and guidance

• Twelve new orders comprised eight build-to-order and four trade-in/pre-owned boats; the net order book was S$144.7m versus S$156.6m at 30 Jun 2025.

• Inventory and acquired trade-in/pre-owned boats were expected to sell in coming months and contribute positively to performance.

• Expanded production capacity is intended to support more and larger boats with shorter lead times; the order book is expected to buffer macroeconomic headwinds and higher operating costs.

• Newport Marina is expected to strengthen brand presence, customer experience and sales opportunities.