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
- Nikko analyst Michael Sherrock on why he still has hope for Fletcher Building
- John Fellet on Sky's poor first half
- Tower chairman Michael Stiassny weighs up Suncorp's rival bid
- NBR VIEW: Screw the golfers, let's build houses instead – Green MP
- E tu Union industry coordinator Chas Muir is urging Cadbury supporters to take action
- Social bonds "will make a difference to communities," says APM CEO Karen Came