| France. Rodriguez first half year new yacht sales up almost 17% |
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| Thursday, 29 June 2006 | |
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Company news: The Rodriguez Group has approved the financial statements for the 1st half-year of its 2005-2006 financial year, ended March 31, 2006. It should be noted that, for the first time, the results are presented in accordance with IFRS and particularly the recognition of new yacht sales in line with their state of completion and no longer on delivery, as previously. In order to provide a comparable basis, Rodriguez Group has presented proforma data, prepared under IFRS, for the 1st half of the previous year (March 31, 2005). Thus, the sales restated for the 1st half of 2004-2005 were € 188.4 million, compared to € 136.7 million as published. Rodriguez Group realized sales of € 212.4 million for the 2005-2006 1st half-year ending March 31, 2006, up 12.7% over the € 188.4 million proforma sales achieved in 2004-2005. Group 2005-2006 1st half-year sales can be analyzed by business segment as follows: ew Yacht sales amounted to € 153.1 million, up 16.9 % over the same period last year; Pre-Owned Yacht sales amounted to € 45.5 million, up 2.7 % over the same period last year; Yacht Services and Merchandise sales were € 13.8 million, up 5.5 % over the same period last year. New yacht sales annual objective The Group has set a new annual objective for sales, stated in accordance with IFRS, of new yachts for the 2005-2006 fiscal year of € 330 million. Cumulative sales order backlog (current and subsequent years) Order backlog of € 490 million restated by € 44 million corresponding to sales recognized by stage of completion at September 30, 2004.The recognition of sales by stage of completion requires the recalculation of the order backlog every year by deducting the sales recognized by stage of completion at September 30 of the previous year. The IFRS order backlog at May 10, 2006 was thus € 502 million, up 13 % from € 446 million in May 2005. On the basis of negotiations in progress, the Group is confident in the level of orders to be taken in the coming months. |
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| Last Updated ( Thursday, 29 June 2006 ) |
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