GYG.L Share News (GYG)

(Sharecast News) - Superyacht maintenance outfit GYG said on Wednesday that its full-year trading performance had improved and as a result, now expects results to be "comfortably ahead" of previous expectations.
GYG said 2019 was "a transformational year" in which "excellent" progress had been made in further strengthening its order book and improving forward visibility.

The AIM-listed group continued to gain market share in the new build sector, with six new builds signed in the year and more recently an 80-metre yacht scheduled to start in the fourth quarter - further reducing the impact of refit seasonality.

GYG did note that the refit market continued to improve, with the new facilities in Barcelona and the US contributing to a record number of projects being signed for.

The group's total order book in January 2020 stood at €44.4m - 31% ahead of the same point in the prior year.

Chief executive Remy Millott said: "2019 was a transformational year for the group and I am delighted that we have such a strong, record order book going into 2020, providing more visibility than ever before.

"I believe we are in a strong position to continue our growth in this segment as the market leader and I look forward to fully updating shareholders at the group's final results in April 2020."

As of 1015 GMT, GYG shares were up 6.45% at 80.90p.