GYG plc (LON:GYG) is the topic of conversation when Mike Allen, Head of Research at Zeus Capital joins DirectorsTalk. Mike talks us through the highlights of its audited Final Results for the year ended 31 December 2019, talks about the key themes he noted, adjustments to the forecast and Mikes view on the company as an investment.
GYG is the market leading superyacht painting, supply and maintenance company, offering services globally through operations in the Mediterranean, Northern Europe and the United States. The Company’s brands include Pinmar, Pinmar Yacht Supply and Technocraft. GYG’s operations can be divided into three key sales channels:
· Refit: repainting and finishing of superyachts, normally as part of a refit programme. Revenues also include scaffolding and containment work;
· New Build: fairing and painting of new vessels as part of the build process; and
· Supply: selling and delivery of maintenance materials, consumables, spare parts and equipment primarily to trade customers.