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Grand Banks' cruising through crisis

The mainboard-listed firm's order book hit a 12-year high as at end-March this year amid surging demand for luxury boats, as the rich seek Covid-friendly havens out at sea.

LUXURY boat-maker Grand Banks Yachts appears to be cruising through the Covid-19 storm.

Its financial numbers show for it - the mainboard-listed firm's order book hit a 12-year high as at end-March this year amid surging demand for luxury boats, as the rich seek Covid-friendly havens out at sea.

Net order book stood at S$57.6 million in the six months ended Dec 31, 2020 (H1FY21), up from S$48.9 million at the end of June 2020. The firm is due to report its full-year earnings next month.

In a recent interview with The Business Times, Grand Banks chief executive officer Mark Richards says the firm has benefited "massively" from global lockdowns.

"Lockdown gets pretty boring. But if you have a boat...

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