The Triton

News

Ferretti reports first profit since 2008

ADVERTISEMENT

The Ferretti Group, announcing financial results for 2016 and the first quarter of this year, said it became profitable last year for the first time since 2008. The group also announced the first elements of a two-year investment plan at a recent conference in Milan.

Results after taxes turned from a $30.8 million loss in 2015 to a $15 million profit in 2016.

Ferretti Group CEO Alberto Galassi said in a statement that Ferretti’s 2017 objectives are challenging, but possible, as the company relies on further investments, an efficient and well-performing organization, and nine new products the group is set to present to the market.

Ferretti also announced additional investments of nearly $50 million: $26.5 million in research and development and $22.7 million toward the growth of production capacity.

The group said investments planned for the shipyards between the end of 2017 and 2018 could result in hiring 80 workers at all of its production sites.

Related Posts...
UPDATED Sept. 20: New date set for CAMX 2017 After a Read more...
By Dorie Cox Shawn Schmoll has been promoted to a Read more...
Nautical Ventures, a South Florida boat and watersports dealership, has Read more...
Rhode Island-based FarSounder has hired Cassie Stetkiewicz as marketing, communications Read more...
By Dorie Cox In an effort to help the victims Read more...

Share This Post

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

Editor’s Picks

Hurricane Maria impacts Caribbean as a major storm

Hurricane Maria impacts Caribbean as a major storm

UPDATE: Wed., Sept. 20 Click for Hurricane Maria update for Sept. 20 from Organisation of Eastern Caribbean States (OECS)'s …

Competition, workshops for interior crew at Monaco

Competition, workshops for interior crew at Monaco

Stews, don't miss the chance to strut your stuff at the Monaco Yacht Show this year. G.U.E.S.T. (Guidelines for Unified Excellence in …

Windowless cars, damaged boats, rare flights aid Tortola escape after Hurricane Irma

Windowless cars, damaged boats, rare flights aid Tortola escape after Hurricane Irma

By Dorie Cox The first frightening trip was out the door of the hotel bathroom. Four charter boat guests stood up from the floor of …

Yacht crew gather after weathering Hurricane Irma in UMC

Yacht crew gather after weathering Hurricane Irma in UMC

About 100 yacht crew and industry professionals gathered under the tiki hut at Universal Marine Center last night (Sept. 14) for a …