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For more than 50 years, Grand Banks has been building premium-quality yachts for the discerning boating community. Despite the market slowdown which began in the second half of 2007, Grand Banks has managed to hold its own in terms of financial performance. Here is a financial snapshot of the company based on the following indicators:
- GB has grown revenues at a compounded annual growth rate (CAGR) of 8.28% over the past 5 years (2004-2008). Despite a challenging business environment, GB's revenue improved to $113.7 million in the last fiscal year.
- Despite the rising raw material costs and increasing competition, GB remains profitable, even though profit after tax dipped to $5.05 million in FY2008.
- GB is cash-rich and debt-free. Its cash and cash equivalents position stood at $38.44 million in FY2008 as against $19.77 million in FY2004
- Over the last 5 years, total gross dividend paid out by GB has increased from $6.17 million to $11.05 million. This translates to a CAGR of 15.7%.
- GB's order backlog has increased from $90 million to $104 million in FY2008.
Financial Highlights
* Includes a special interim dividend of S$7,646,500 (S$0.122 per share) which was applied towards the issuance of fully paid rights shares.
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