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 0.7849 0.0017 0.22%
AUD 0.8902 0.0029 0.33%
EUR 0.6248 0.0034 0.55%
GBP 0.4911 0.0014 0.29%
HKD 6.0926 0.0180 0.30%
JPY 87.8560 2.2890 2.68%

Commods

Commodity Price Change Time
Gold Index 1198.1 -13.740 2014-10-30T00:
Oil Brent 86.2 -0.880 2014-10-30T00:
Oil Nymex 81.1 -1.180 2014-10-30T00:
Silver Index 16.4 -0.830 2014-10-30T00:

Indices

Symbol Open High Last %
NZX 50 5370.2 5405.3 5370.2 0.33%
NASDAQ 4532.1 4575.5 4549.2 0.37%
DAX 9283.4 9284.5 9114.8 1.80%
DJI 16968.1 17224.0 16974.3 1.30%
FTSE 6463.6 6548.9 6463.6 1.07%
HKSE 23913.7 24046.4 23702.0 1.25%
NI225 15817.1 16533.9 15658.2 4.83%