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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- 'It’s not as big as it was last year but it’s still the biggest game in town' – Paul Maher talks up TVNZ's audience
- Hydroworks CEO Andrew Rodwell on the company's prospects post-funding.
- Trading with Milford’s “Ming” – Goldmans and Forbars give evidence at Warminger trial
- In Editor's Insight, Nevil Gibson finds women are still under-represented at all levels of the corporate ladder
- Privacy Commissioner John Edwards on a pending law change that will affect your business