14 Nov 2012

Smaller loss reported by boat maker

1:26 pm on 14 November 2012

Sealegs Corporation has reported a half year loss of $134,000, an improvement of 90% on the previous year.

The amphibious boat maker says sales to September rose 11% from the same period last year to $7.6 million.

It says 90% of the 50 boats it sold in the six months were to overseas buyers.

The company attributes some of its rise in sales to new models and new markets including Africa and Russia.

For the first time, the company earned license revenues from its technology, with Smuggler

Boats completing the first third-party built boat that incorporates Sealegs' technology.