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GYG touts strong start to Q1 after revenue, earnings in Q4 hurt by project delays
StockMarketWire.com
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Superyacht maintenance company GYG touted strong start to the new year following fourth-quarter revenue and earnings that were expected to fall short of market forecasts owing to Covid-related costs and project delays during the quarter.
The company said it expects to report revenue of €58.5 million with adjusted earnings before interests, taxes, depreciation and amortisation, or EBITDA, also marginally below current market expectations.
The order book in January 2021 stood at €53.8 million, which was 21% ahead of the same point in the prior year.
The order book for 2021 was currently €40.6 million, which was a 24% increase when compared to a January 2020 order book of €32.8 million.
Looking ahead, the company said it had experienced a strong start to the year with Q1 revenues expected to be 'well ahead' of Q1 2020.
'On the back of this record current year order book, the outlook for 2021 remains very positive at this early stage in the year, albeit future changes in lockdowns and travel restrictions may affect the full year performance,' it added.
At 8:41am: (LON:GYG) GYG Plc share price was 0p at 69.5p
Story provided by StockMarketWire.com
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