GYG plc in a good spot with plenty of earnings upside (Analyst Interview)

GYG plc (LON:GYG) the market leading superyacht painting, supply and maintenance company is the topic of conversation when Mike Allen, Head of Research at Zeus Capital joins DirectorsTalk. Mike talks us through the key points from GYG’s H1 results, explains what key themes he noted, the assumptions made in the forecast and Mikes thoughts on the company’s current valuation.

GYG plc is the market leading superyacht painting, supply and maintenance company, offering services globally through operations in the Mediterranean, Northern Europe and the United States. The Company’s brands include Pinmar, Pinmar Supply, and Technocraft. GYG’s operations can be divided into three key sales channels:

  • Refit: repainting and finishing of superyachts, normally as part of a refit programme. Revenues also include scaffolding and containment work;
  • New Build: fairing and painting of new vessels as part of the build process; and
  • Supply: selling and delivery of maintenance materials, consumables, spare parts and equipment primarily to trade customers.
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