Rodriguez Group: activity pacing-up during the third quarter
The Group reported sales of € 24.8 million during the third quarter, increasing its sales by 17.7 % compared to last year’s third quarter.
The third quarter of RODRIGUEZ GROUP’s 2009/2010 fiscal year started on April 1st, 2010 and ended on June 30, 2010.
The results of RODRIGUEZ GROUP during such period can be analyzed as follows:
- Sales of Yachts represent € 15.7 million, a 20.8 % increase compared to the same period in 2008/2009.
- Services represent € 9.1 million, a 12.7 % increase compared to the same period in 2008/2009.
These figures reflect a bounce in terms of Yachts and Services sales. This is an encouraging signal with respect to market stabilization, and possibly light market take-off.Over the period, the level of sale prices for Yachts has remained lower than the previous years. Due to its stock of available and pre-financed new and pre-owned Yachts, the increase in Yacht sales during the 3rd quarter allows RODRIGUEZ GROUP to follow its cash-generation target. At the same time, the Group continued its efforts to lower its breakeven point and starts to acknowledge the positive impact of the Yachts inventory reduction on ancillary costs (docking rentals, maintenance).
Cumulative 9–month sales for the period started on October 1st, 2009 and ended on June 30, 2010 totaled € 46.7 million, down 33.6 % compared to the same period during the 2008/2009 fiscal year.
The results of the 3rd quarter contribute to reducing the slowdown in cumulative sales over the 9-month period compared to the previous year.
RODRIGUEZ GROUP follows its cost-management policy and intends to emphasis its marketing and sales efforts in order to benefit from the first signs of improvement in the market conditions.
Category: Brokerage News
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