Beneteau Group reports first-half fiscal results

The Beneteau Group is reporting an 18.2 percent gain in boat sales for the first half of its fiscal year.
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The Beneteau Group is reporting an 18.2 percent gain in boat sales for the first half of its fiscal year, up from about $230 million between September 2013 and February 2014 to $272.6 million in the same time period through February this year.

Billing for the first half of 2014-15 represented 251.3 million euros ($273 million). Revenue for the second quarter came to 156.4 million euros, or about $169.56 million, the company said.

Excluding the 38.1 million euros ($41.34 million) contributed by Rec Boat Holdings brands — Four Winns, Glastron, Wellcraft and Scarab — during the half-year period the boat business recorded 0.3 percent growth.

The company said currency trends during the half-year period had a positive impact on Boat Division sales for 3.9 million euros ($4.23 million).

“Thanks to its order book on the same date, which generally represents around 80 percent of full-year revenues, the group is forecasting like-for-like business growth of over plus-10 percent at constant exchange rates, as announced previously,” the company said in its earnings report.

“This additional growth primarily factors in the group performing better than expected on the European market,” the company said. “This positive trend is expected to provide more support than forecast to help drive revenue growth for the boat business over the full year.”

Considering its seasonal business trends, the whole group’s half-year revenue usually only accounts for about 30 percent of its full-year sales. During the first half of 2014-15, revenue climbed in the group’s boating and housing business by 10.7 percent, compared with the first half of the previous year, to reach 312.9 million euros ($339.38 million). Second-quarter revenue came in at 206.1 million euros ($223.54 million).

However, in view of the order book, this half-year performance is not representative of the growth expected for the whole year, the company said. The group was therefore able to confirm its overall forecast for revenue growth of more than 20 percent for fiscal 2014-15.

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