SGX:G50Machinery
Grand Banks Yachts (SGX:G50) Stock Revenue Holds While Margins Thin
Grand Banks Yachts went into this earnings release with a reputation for solid profitability and a P/E of 10.2x that sat below the Singapore market, peers and the wider Asian machinery industry. Yet with the stock flat over the past week and roughly unchanged into the results, investors were clearly cautious.
The new numbers keep the spotlight on margins. Net profit margin over the past 12 months sits at 7.7%, compared with 11.2% a year earlier, and a high level of non cash earnings now...