Friday wrap: Malibu catches a mild case of COVID-19

Adding to the pain was a 39.1 per cent fall in net sales to $US118.7 million in the fourth quarter of the financial year, with profit before tax for the quarter falling 50.7 per cent as factory shutdowns – both in the US and at Malibu’s Australian production line – affected the business.

“Due to our planning and adaptable operations, we were able to reopen all brand production at pre-shutdown levels,” Malibu Boats chief executive Jack Springer said.

“Moving into fiscal year 2021, we remain incredibly well-positioned,” he said.

“Our decision to roll out our model year 2021 products earlier than in years past and expand our innovative portfolio of boats across all of our brands gives us an edge with both loyal Malibu customers and first-time boat buyers.”

Boats undergoing a significant remake include models made and sold here in Australia, including the Malibu WakeSetter 23 LSV – the brand’s most popular boat worldwide – and the Axis Wake Research A24.

Springer said despite the uncertainty around the COVID-19 pandemic, it would continue with new product development.

Malibu’s Albury-based factory does not report its results separately to the rest of the US-based company.

All eyes turn to the Fort Lauderdale International Boat Show in October with confirmation that Europe’s flagship boating event, the 2020 Cannes Yachting Festival, won’t go ahead.

The French boat show, used to showcase the biggest and best that Europe has to offer, has fallen victim to growing concerns over an increase in the spread of the COVID-19 pandemic throughout the region.

Meanwhile, organisers behind the Fort Lauderdale event, described as “the greatest boat show on the seven seas” and now potentially the only boat show, have issued a statement saying simply that the event would be “moving forward as planned”.

“The health and safety of our staff, exhibitors and visitors is of the utmost importance and as such will follow the industry-wide AllSecure standards created and implemented by Informa in coordination with association partners.”

Florida currently has more than 612,000 active cases of coronavirus, with more than 10,800 deaths.

Euro-chic motor yachting brand Pershing has unveiled a 140-foot all-aluminium superyacht – the first time it has made a vessel entirely out of the metal.

It’s first all-alloy boat needs to be something special, and the Pershing 140 delivers with a design that has a pop-up helm station overlooking the forward sun deck.

Owners of the 43.3-metre Pershing 140 also gain a swanky aft cockpit that folds down on three sides to become a pair of discrete balconies and a very private swim deck enjoyed by up to five couples.

The design eschews traditional drives for a pair of water jets powered using 2600hp V16 MTU engines. Maximum speed is an eyebrow-raising 38 knots, with a decent cruise speed of 35 knots to give a 1400 nautical mile range.

Mystery British artist Banksy has taken to the water with his latest project, funding a ship that has helped almost 90 refugees flee northern Africa for a new life in Europe.

The bright pink boat, featuring artwork of a young girl wearing a life jacket and reaching for a heart-shaped lfering, was crewed by European activists who had launched similar rescue missions.

It is believed the mystery artist used money he received from artwork highlighting the migrant crisis to fund the rescue boat.