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
- Ardern cruises to Mt Albert victory, bringing Huo into Parliament
- MARKET CLOSE: NZ shares fall, Warehouse and Mercury NZ drop while Air NZ gains
- Hooton: Racism lies behind Little’s kaupapa Maori attack
- Carry on: Xiamen for Auckland, Cathay for Christchurch, Virgin for HK and more
- Hidesight: Advance means retreat for glacier scientists
Most listened to
- Business Week in Review with Grant Walker and Andrew Patterson
- Sunday Business with Andrew Patterson featuring Joanna Blatstone and Neil Parischa
- Rodney Hide: Advance means retreat for glacier scientists
- Stewart Germann and Gehan Gunasekara go head-to-head on the franchising debate
- Racism lies behind Little’s kaupapa Maori attack, says Matthew Hooton