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Global Yachting Group

GYG plc Trading above expectations

Trading Update

GYG plc (LON: GYG), the market leading superyacht painting, supply and maintenance company, has today provided the following trading update for the six months ended 30 June 2019.

The Group is pleased to announce that the positive momentum that was reported on 21 May 2019 has continued through Q2 and, as a result, the Board expects that profit performance for the full financial year will be ahead of current market expectations. This performance has been driven by continued improvement across the business.

CFO Change

The Board also announces that, after seven years with the Group and successfully leading the finance function through the IPO in 2017, Gloria Fernandez has informed the Board of her intention not to return to the Group after her maternity leave. The Group’s Interim CFO, Kevin McNair, who has been in place during Gloria´s maternity leave will continue in the role for the foreseeable future.

Remy Millott, CEO of GYG plc commented:

“I am pleased that the momentum we experienced in Q1 continued through Q2 and that the Group performed well across all business units. We are looking forward to a busy Monaco Yacht Show in September and continued market performance through the remainder of 2019.

“I would like to take this opportunity, on behalf of the Board, to thank Gloria for her valuable contribution over the last seven years and we wish her the best of luck on the next stage of her journey.”

The Group will report its Interim Results for the six months ended 30 June 2019 on 26 September 2019.