GYG says coronavirus has not dented demand for big boats

Superyacht painting and maintenance firm GYG says the coronavirus crisis has not dented demand from the super-rich for big boats. 

The company yesterday said its order book grew from £35m to £38m in the six months to June 30, including a contract for an 80- metre vessel beginning in the final three months of this year. 

GYG also said four out of six contracts signed last year will be under way in the second half of this year, and that advanced talks are taking place about further planned projects for 2021 and 2022. 

Plain sailing: GYG said its order book grew from £35m to £38m in the six months to June 30

Plain sailing: GYG said its order book grew from £35m to £38m in the six months to June 30

Plain sailing: GYG said its order book grew from £35m to £38m in the six months to June 30

It boasted of ‘strong sales momentum’ in the first half, even during the ‘traditionally quieter summer months’, and said it was on track to meet its targets. 

No contracts have been cancelled during the pandemic. 

An adjusted first half profit of £1.44m is expected, compared to £1.35m last year. 

Boss Remy Millott added: ‘Despite the challenges that the Covid-19 pandemic has presented, the group has had a good first half.’

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