Sector News – Page 338
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NewsSurprise Q3 results for Marine Products Corporation
Marine Products Corporation, makers of Chaparral, Robolo and Vortex boats, surprised Wall Street with its third quarter results that saw a nearly 10.5% reduction in unit sales and a 4.8% drop in sales revenue reported at US$68.7m.
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NewsVanquish Yachts secures 35m superyacht order from US client
Vanquish COO Sander Mars: “US clients are getting used to aluminium” Since its founding in 2012, Vanquish Yachts has built fast luxury dayboats at a blistering pace. It’s a tale of peerless success: the Dutch maker of aluminium tenders and day cruisers just scored an order for ...
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NewsHubbell feels Covid pinch in 2020 Q3 results
Declines in net sales, gross profits and net profits point to continued uncertainty in the power market
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NewsCroatian nautical sector seeks government financial support
A 50% drop in yacht arrivals and a 65% revenue loss from the reduced traffic has Croatia’s growing marina and nautical sector stalled and seeking some additional job support funding, according to the Croatian Chamber of Commerce (HGK).
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NewsBetter than forecast results for Groupe Beneteau
The multi-brand French boatbuilder said the company is benefiting from its global, multi-segment positioning against the adverse environment of Covid 19
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NewsStrong boat sales float Q3 earnings for Polaris
Boat division leads all other segments with 30% YOY sales jump to drive higher overall earnings, profits
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NewsCummins’ North American sales decline, international sales stable
Cummins Inc closed its third quarter with revenues down 11% to US$5.1bn from last year, led by an 18% drop in North American sales while international revenues were flat.
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NewsCaterpillar crawls through rough third quarter
Caterpillar Inc has announced third-quarter earnings that are down across the board, led by lower end-user demand. The Deerfield, Illinois-based Cat reports sales and revenue of US$9.9bn, a 23% decline from Q3 2019. Profit per share was down 54% at US$1.22, while operating profit margin dropped nearly 6 points to ...
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NewsAzimut-Benetti Group reports strong Asia-Pacific sales
The Asia-Pacific area continues to play a strategic role in terms of Azimut-Benetti Group sales. Thanks to its longstanding presence in key countries in the area, the Italian boatbuilder has an excellent reputation and unparalleled reach across the region.
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NewsBiograd Boat Show reports better than expected results
The 22nd edition of the Biograd Boat Show, held from October 21-25 at Marina Kornati in southern Croatia and organised and hosted by Ilirija d.d, presented an outcome which in the view of many exhibitors and the organisers had been ”better than expected”.
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NewsDanfoss to power Bangkok fleet of electric ferries
Some 27 zero-emission passenger ferries will soon replace aging diesels on Bangkok’s Chao Phraya River in a bid to improve air quality and clean up the water supply in the Thai capital.
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NewsAquatic AV appoints Finnish distributor
Aquatic AV, the US manufacturer of specialist waterproof AV equipment, has named Norcap as its new Finnish distributor.
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NewsSafety first as FLIBS prepares for Wednesday opening
With a preponderance of precautions in place, the 61st annual Fort Lauderdale International Boat Show (FLIBS) gets underway Wednesday, albeit on a smaller overall footprint and with less than half of the exhibitors who attended the 2019 event, all propagated by the Covid-19 global pandemic. The recently concluded Genoa Boat ...
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NewsFountaine Pajot reports 2019-20 turnover
France’s second largest boatbuilder has released preliminary information for its fiscal year, ending August 31 noting a significant impact stemming from the Covid-19 crisis
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NewsUK yacht chandler sold
L-R: SeaFront directors Simon Sheehan and Richard Besse with general manager of Nick Cox Matt Evans and SeaFront operations manager Liz Evans SeaFront Marine Group in the UK has acquired Lymington-based retailer Nick Cox Yacht Chandler, expanding the company’s portfolio of marine product distribution, sales and servicing ...
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NewsBrunswick elects Reggie Fils-Aimé to Board
The former head of Nintendo of America has been elected to Brunswick Corp’s Board of Directors.
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NewsFrench builder of amphibious boats opens US office
Iguana, the French builder of amphibious sportsboats has opened an office in New York and has marked this with an order from the US Navy for two of their advanced amphibians. The contract with the US Navy marks a significant development for the newly established commercial/military side of the business, ...
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NewsMDL Marinas strengthens management with six new appointments
MDL Marinas has announced six new managers across its UK marinas, five of which have been promoted internally.
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NewsDMS Holland determined to widen range of stabilisers
Under new management, DMS Holland vows to stay the course and widen its range of yacht stabilisers. It is now developing two new systems.
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NewsHanseYachts continues its financial restructuring strategy
German boatbuilding group, HanseYachts AG, reported today continuing reorganisation of the company’s financial structure for its future strength. The company’s brands include Hanse, Dehler and Moody sailboats, Fjord and Sealine powerboars, and Privilege sail and motor catamarans.
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