YCO Yco Group

TIDMYCO

RNS Number : 7608S

YCO Group PLC

25 November 2011

25 November 2011

YCO Group plc

Trading Statement

YCO Group plc ("Y.CO" or the "Company"), a leading provider of specialist services to superyachts, today provides the following trading statement.

Despite 2011 being a year of difficult economic and challenging market conditions, Y.CO has completed a successful restructuring, refocus and rebranding of the Company. The Board has focused on increasing market share in its core service areas through brand and marketing initiatives and the recruitment of key personnel. This has required a significant level of cost and investment, that, combined with the delay of certain contracted revenues into early 2012, will result in profits for the year ending 31 December 2011 being significantly lower than market expectations.

However, these initiatives and investments have also resulted in satisfying operational performance: the number of yachts under management in the Y.CO fleet has increased during the second half of 2011 and the number of charter weeks booked for 2011 will exceed that of 2010. Over the year, the Company has also signed a number of new build projects and attracted some excellent new yachts to its sales and charter fleet, including the 45m explorer yacht Big Fish to its sales fleet and the 67m sailing yacht Vertigo to its charter fleet.

Overall, the Company anticipates a breakeven trading position for the year but remains confident of continuing not only to maintain, but to increase its market share throughout 2012 in spite of ongoing economic uncertainty.

For further information:

 
 YCO Group plc                      Tel: +377 93 50 12 12 
 Charlie Birkett, Chief Executive 
 
 
 Arbuthnot Securities Limited   Tel: + 44 (0)20 7012 2000 
 Tom Griffiths / Ed Groome 
 
 
 Media Enquiries - Hudson Sandler   Tel: + 44 (0)20 7796 4133 
 Charlie Jack / Nathan Field 
 

Notes to Editors

YCO Group provides a diverse service offering to the superyacht industry.

The Group's principal activities are the management, sale, charter and project management of superyachts. Additional services include the search and placement of professional yacht crew and general yacht concierge services.

Over the past eight years, the Group has built a team of industry leading brokers and yacht managers, enabling it to offer its services to a growing roster of global clients.

In May 2008, YCO Group's shares were admitted to the AIM market of the London Stock Exchange through the reverse takeover of Deuxmil Marine PLC, making it the only UK listed yacht broker. The Company currently operates in Monaco, London, Antibes, Palma, Newport and the Gulf.

For further information, please see www.ycogroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTBIBJTMBBTTAB

YCO Group (LSE:YCO)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

YCO Group (LSE:YCO)
Historical Stock Chart
Von Dez 2023 bis Dez 2024