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Superyacht servicer GYG reassures on impact of Russia sanctions

Thu, 31st Mar 2022 15:35

(Sharecast News) - Superyacht painting, maintenance and supply company GYG announced on Thursday that terms have been agreed on both of the Nobiskrug New Build projects that were suspended in 2021.

The AIM-traded firm said one of the projects would restart at the Nobiskrug shipyard in Germany under new ownership, and the second would be completed in another northern Europe shipyard, which the board said represented "a new opportunity" for the group.

It said the works were scheduled to recommence on both projects in the second quarter.

GYG also updated shareholders on the geopolitical impact of Russia's ongoing invasion of Ukraine, with current industry estimates putting Russian superyacht ownership at between 7% and 10% of the global market.

The company's board said it believed its current exposure was in line with those figures.

To counter any possible disruption, it said it was focussed on leveraging its global capabilities, with operations across the Mediterranean, northern Europe and the United States.

GYG said it had a "solid pipeline" of prospective work, spanning more than 185 projects amounting to around €200m (£168.89m) of potential revenue.

As it said in a trading update on 2 March, GYG's total order book as of February stood at €55.4m, and remained stable at that level, the directors added.

"No international industry is immune from current geopolitical events," said chief executive officer Remy Millott.

"GYG is a global business with a diversified international client base and as a result of our leading industry position and premium brands, we are continuing to take market share and build a strong pipeline of opportunities in the short and medium term.

"Trading in the first quarter remains in line with our forecasts and I would like to thank the entire team for their dedication to deliver superior service across our Pinmar and Technocraft brands and their continued pursuit to convert our robust international pipeline to the order book."

GYG said it would announce its final results for the year ended 31 December on 27 April.

More News
7 Sep 2022 12:29

GYG announces matched bargain dealing facility on AIM delisting

(Alliance News) - GYG PLC on Wednesday reminded shareholders that it is the final day that they can buy and sell its shares on London's AIM, as it prepares to delist next week.

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24 Aug 2022 15:51

UK shareholder meetings calendar - next 7 days

Thursday 25 August 
Ince Group PLCGM fundraising
McBride PLCGM increase in borrowing limit
NatWest Group PLCGM re approval of special dividend
Nuformix PLCAGM
Triple Point Energy Efficiency Infrastructure Co PLCAGM
Friday 26 August 
no events scheduled 
Monday 29 August 
no events scheduled 
Tuesday 30 August 
Afentra PLCGM re acquisition of Block 3/05 and Block 23 interests
Harvest Minerals LtdAGM
iomart Group PLCAGM
JPMorgan Global Growth & Income PLCGM re combination of assets with Scottish Investment Trust PLC
Sivota PLCAGM
Stanley Gibbons Group PLCEGM re delisting from AIM
Wednesday 31 August 
Fulham Shore PLCAGM
GYG PLCGM cancellation of admission of Ordinary Shares to trading on AIM
Invinity Energy Systems PLCAGM
James Latham PLCAGM
Rural Broadband Solutions PLCAGM
Scottish Investment Trust PLCGM re recombination of assets with JPMorgan Global Growth & Income PLC
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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24 Aug 2022 11:56

IN BRIEF: GYG Chair and CCO buy over GBP50,000 in shares each

GYG PLC - Mallorca, Spain-based super-yacht painting, service and supply company - Chair Richard McGuire and Chief Commercial Officer Rupert Savage buy 324,193 and 350,000 shares, respectively, at 17 pence each in London on Wednesday. McGuire's shares are worth GBP55,113 in total and Savage's shares are worth GBP59,500 in total.

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2 Aug 2022 14:06

IN BRIEF: GYG shares fall 38% on proposed delisting from AIM

GYG PLC - Mallorca, Spain-based super-yacht painting, service and supply company - Reports it was trading "strongly" and in line with its forecasts during the first quarter of 2022. The positive momentum continued in the second quarter and GYG expects overall revenue growth for the first half to be in line with first-half revenue last year. Expects a robust performance and in line with its forecasts for the second half. Continues to trade in line with market expectations for 2022. Believes consensus market expectations for annual revenue are EUR59 million and EUR5.0 million for adjusted earnings before interest, tax, depreciation, and amortisation. Plans to focus on improving profit levels and margins through "operational and strategic efficiencies."

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2 Aug 2022 11:15

AIM WINNERS & LOSERS: Revolution Beauty tumbles; GYG eyes delisting

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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31 May 2022 16:18

TRADING UPDATES: Sportech, GYG trade well, Supply@ME loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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31 May 2022 11:10

GYG maintains strong order book amid industry pressures

(Sharecast News) - Superyacht supplier and service provider GYG said in an update on Tuesday that trading in the first quarter was "strong", and in line with its forecasts.

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24 May 2022 16:04

UK shareholder meetings calendar - next 7 days

Wednesday 25 May  
Access Intelligence PLCAGM
Amur Minerals CorpAGM
Aston Martin Lagonda Global Holdings PLCAGM
Bakkavor Group PLCAGM
Bango PLCAGM
Bodycote PLCAGM
Eleco PLCAGM
International Public Partnerships LtdAGM
Intertek Group PLCAGM
M&G PLCAGM
Manx Financial Group PLCAGM
Mortgage Advice Bureau Holdings PLCAGM
Property Franchise Group PLCGM re final 2021 dividend
Regional REIT LtdAGM
Sabre Insurance Group PLCAGM
Trustpilot Group PLCAGM
Tullow Oil PLCAGM
Zenova Group PLCAGM
Zotefoams PLCAGM
Thursday 26 May 
Aminex PLCAGM
Bank of Ireland Group PLCAGM
Belvoir Group PLCAGM
Central Asia Metals PLCAGM
Curtis Banks Group PLCAGM
Diaceutics PLCAGM
Duke Royalty LtdEGM re fundraise
East Star Resources PLCAGM
Energean PLCAGM
Henry Boot PLCAGM
Hochschild Mining PLCAGM
Legal & General Group PLCAGM
National World PLCAGM
Ocean Wilsons Holdings LtdAGM
OnTheMarket PLCGM re cancellation of capital
Prudential PLCAGM
S&U PLCAGM
Staffline Group PLCAGM
Strix Group PLCAGM
WAG Payment Solutions PLCAGM
Yu Group PLCAGM
Friday 27 May 
AG Barr PLCAGM
Big Technologies PLCAGM
Coca-Cola Europacific Partners PLCAGM
Destiny Pharma PLCAGM
Hostmore PLCAGM
Lancashire Holdings LtdAGM
Lekoil LtdEGM re appointment and remuneration of auditors
LSL Property Services PLCAGM
Malin Corp PLCAGM
Old Mutual LtdAGM
Oxford BioMedica PLCAGM
Renewables Infrastructure Group LtdAGM
Spectris PLCAGM
Monday 30 May 
Adriatic Metals PLCAGM
Clarify Pharma PLCAGM
Tuesday 31 May 
GYG PLCAGM
JTC PLCAGM
Lookers PLCAGM
McColl's Retail Group PLCAGM
Microlise Group PLCAGM
PageGroup PLCAGM
Petershill Partners PLCAGM
Sportech PLCAGM
Tekcapital PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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27 Apr 2022 12:31

IN BRIEF: GYG shares fall 18% as it turns to annual loss due to Covid

GYG PLC - Mallorca, Spain-based super-yacht painting, service and supply company - Shares fall as it turns to an annual pretax loss in 2021. Pretax loss at EUR7.2 million versus a profit of EUR183,000 in 2020. Revenue rises to EUR62.8 million from EUR58.9 million. Operating costs climb to EUR68.9 million from EUR57.7 million, mainly due to Covid-related costs and the insolvency of its shipyard Nobiskrug in April 2021.

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27 Apr 2022 11:04

AIM WINNERS & LOSERS: LoopUp jumps up; Empyrean Energy comes up dry

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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31 Mar 2022 21:06

TRADING UPDATES: Valeura and Mast Energy losses widen; Altitude upbeat

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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2 Mar 2022 17:53

TRADING UPDATES: Sweet interim profit rise for Hotel Chocolat

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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24 Jan 2022 16:37

IN BRIEF: GYG signs new contract for refitting work at German shipyard

IN BRIEF: GYG signs new contract for refitting work at German shipyard

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17 Dec 2021 16:39

EXECUTIVE CHANGES: Litigation Capital vice chair out for "misconduct"

EXECUTIVE CHANGES: Litigation Capital vice chair out for "misconduct"

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