Grand Banks Yachts secured 11 new boat orders during this period, similar to H1 FY2023.
In its financial results, the group said its net order book of S$137.3 million as at Dec 31 and “robust” balance sheet will also serve as a “strong buffer” against near-term economic and business uncertainties.
It has cash and cash equivalents of S$42.8 million as at Dec 31.
The group remains confident of the long-term growth prospects of the luxury motor yacht market, due to healthy visitor volumes at roadshows and a bigger customer base.
The yacht maker is currently expanding its manufacturing yard to meet anticipated demand, with the expansion projected to lift production capacity by 25 per cent.
Chief executive Mark Richards said: “The expansion at our Pasir Gudang yard will enhance our manufacturing capabilities and help us achieve faster delivery times.”
“On the sales and marketing front, we are developing our service yard in Stuart, Florida, United States to provide better after-sales services, in order to cement our presence in the US, our main market,” he added.
Shares of Grand Banks Yachts closed at S$0.30, up S$0.005 or 1.7 per cent.