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GYG says the coronavirus has not affected demand for big boats

Superyacht maintenance company GYG says coronavirus crisis has not affected super rich demand for big boats

GYG, a superyacht painting and maintenance company, says the coronavirus crisis has not affected the super-rich’s demand for big boats.

The company said yesterday that its order book has grown from £ 35 million to £ 38 million in the six months to June 30, including a contract for an 80 meter vessel starting in the last three months of this year.

GYG also said four of the six contracts signed last year are running in the second half of this year, and that advanced discussions are underway on further planned projects for 2021 and 2022.

Just Sailing: GYG said order book grew from £ 35m to £ 38m in the six months to June 30

Just Sailing: GYG said 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 were canceled during the pandemic.

First half adjusted earnings of £ 1.44 million are expected, compared to £ 1.35 million last year.

Boss Remy Millott added: “Despite the challenges posed by the Covid-19 pandemic, the group has had a good first half.”

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