Grand Banks Yachts Limited provided earnings guidance for the financial year ending 30 June 2015. The group expects to report a net loss for the financial year ending 30 June 2015. The expected net loss for financial year 2015 is mainly attributable to: Implementation of a corporate strategy following the PBMY acquisition whereby the Group is focusing its efforts on developing new yachts to create sustainable growth and profit opportunities which require some time to realize; Discounts and sales incentives given to expedite the sale of older model inventory yachts; While new orders have been secured which raised the order book to SGD 31.6 million as at 31 March 2015, the timing of their completion means that the revenue from these new orders will be largely recognized in the financial year ending 30 June 2016; and Longer production times than expected at the Malaysian factory due to new personnel, the construction of three new Grand Banks yacht models as well as the production of three Palm Beach yacht models being built for the first time at the Malaysian factory.