Sealegs narrows loss with more profitable models

Sealegs Corp, which makes amphibious boats, reports a narrower first-half loss as it increased sales of more profitable models catering for the luxury market.

The loss is $133,998 in the six months ended September 30, from a loss of $1.17 million a year earlier, the Auckland-based manufacturer says in a statement to the NZX. Sales rose 11% to $7.6 million.

The company invoiced for 50 boats in the first half, little changed from 49 boats a year earlier, though its average unit price rose as it introduced new top-end models such as a 7.7m cabin boat and a 7.7m wide console craft in the New Zealand, Australian and UK markets.

Sealegs also earned license revenues for the first time, with a firm called Smuggler Boats paying to use its technology.

"The opportunity exists to provide Sealegs technology on a license basis to a significant number of third party boatbuilders around the world," chairman Eric Series says.

Shares of Sealegs last traded at 13 cents, valuing the company at $15.8 million and have gained 14% in the past six months.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7831 -0.0010 -0.13%
AUD 0.9224 0.0005 0.05%
EUR 0.6286 -0.0005 -0.08%
GBP 0.5013 0.0005 0.10%
HKD 6.0858 0.0040 0.07%
JPY 92.9740 0.0740 0.08%

Commods

Commodity Price Change Time
Gold Index 1167.0 -29.600 2014-11-28T00:
Oil Brent 74.4 -5.030 2014-11-28T00:
Oil Nymex 66.2 -7.540 2014-11-28T00:
Silver Index 15.5 -1.060 2014-11-28T00:

Indices

Symbol Open High Last %
NZX 50 5455.4 5474.7 5455.4 -0.57%
NASDAQ 4797.1 4810.9 4787.3 0.09%
DAX 9990.7 9990.7 9974.9 0.06%
DJI 17830.5 17893.4 17827.8 0.00%
FTSE 6723.4 6734.7 6723.4 -0.01%
HKSE 23982.3 24117.2 24004.3 -0.07%
NI225 17340.2 17471.9 17248.5 1.23%