Link: https://links.sgx.com/1.0.0/corporate-announcements/M2FG0C1RODDUFPN7/8e635b72205b19575790549e38fe46e5d06b8c6d6f81b5a4a9f916794b7378ba

Summary:

• Revenue: Rose 21.4% to a record S$162.3 million, driven by higher sales of trade-in, pre-owned, and stock boats.

• Order Book: Net order book as of 30 June 2025 was S$156.6 million (up 30.5%), with 33 new boats and 13 trade-in/stock boats on order.

• Net Profit: S$18.2 million (down 14.8% vs. FY2024, which was S$21.4m), mainly due to margin compression from higher trade-in/stock sales and cost increases.

• Gross Profit: S$48.5 million (down 4.5%) as gross margin fell to 29.9% (from 38.0%), reflecting more lower-margin trade-in sales and higher costs.

• Earnings per Share: 9.77 cents (down from 11.58c); Net asset value/share rose to 54.75c (from 47.25c).

• Cash Flow: Operating cash flow up to S$31.2 million (from S$9.0m). Cash and deposits totaled S$51.5m (up from S$42.1m).

• Final Dividend: 1.0 Singapore cent per share proposed (total FY2025: 1.5c, pending approval).

• Business Updates:

  • Strategic acquisition of Newport Marina, Rhode Island (June 2025) to boost US brand presence.

  • New manufacturing extension in Johor, Malaysia completed.

  • Group has assessed new US tariffs (August 2025) and sees no material impact on results.

• Outlook: Luxury boat demand remains healthy despite global headwinds (tariffs, costs, supply chain risk). Group will focus on sales, expanding order book, and ongoing operational improvements.