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Global Yachting Group

GYG plc Trading above expectations

GYG plc (LON: GYG), the market leading superyacht painting, supply and maintenance company, has today provided the following trading update for the year ending 31 December 2019.

The Board reports that due to a continued improvement in the general Refit market during the first four months of the year and further progress in its New Build Strategy, the Group has seen a positive uplift in trading. Given this strong start to the year, the Board expects that the outcome for the full year will be ahead of current market expectations. The Group continues to strengthen its operational capability and is well positioned to respond to any further market improvement.

As previously announced, the Company’s Annual General Meeting is due to take place on 23 May 2019 at 11.30am at the offices of CMS Cameron McKenna Nabarro Olswang LLP, Cannon Place, 78 Cannon Street, London EC4N 6AF.

Remy Millott, CEO of GYG plc commented:

“I am delighted that the Group has been able to take advantage of the improving market conditions which has enabled us to start the year very positively. We have built a strong order book across both Refit and New Build and we look forward to the future with growing confidence.”