rns14 Sep 2010 09:04
RNS Number : 6141S
YCO Group PLC
14 September 2010

14 September 2010
YCO Group Plc
("YCO", the "Company" or the "Group")
Interim Results for the 6 months ended 30 June 2010
YCO Group plc, a leading provider of specialist services to superyachts, today announces its unaudited Interim Results for the 6 months ended 30 June 2010.
Financial Highlights
¡ Revenue up 9% to £11.8m (H1 2009: £10.9m)
¡ Gross Profit increased by 27% to £3.9m (H1 2009: £3.1m)
¡ PBT increased to £533,000 (H1 2009: Loss of £0.6m)
¡ Earnings per share up to 0.8p (H1 2009: Loss of 1.24p)
Operational Highlights
¡ Return to profitability as a result of:
o successful restructuring programme throughout 2009
o encouraging performance from the brokerage division as market conditions recovered
¡ Improved performance in all Client Services divisions:
o Management income up 15%
o Sales income up 65%
o Charter income increased more than 3.5 times
¡ Number of contracted yachts up 8%
Charlie Birkett, Chief Executive, commented:
"The Board is pleased to announce a strong set of interim results, which reflect the benefits of the restructuring programme undertaken in 2009 and continues the Group's growth trend reported at the full year results."
"During the first half of 2010, the Group has continued to reduce costs where practical and to improve operational and cost efficiencies in all areas, leveraging gradually improving market conditions to enable an encouraging performance in almost all areas of operations. The Board remains confident regarding the outlook for the Group for the remainder of 2010 and next year."
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