28 Nov 2008

Loss reported by boat maker

12:27 pm on 28 November 2008

Sealegs has posted a half year loss.

The amphibious boat maker lost $163,000 for the six months to September, an improvement of 70% on the same period a year earlier.

Revenue rose 73% to $NZ7.8 million.

Last month, Sealegs warned of a dive in new orders as the global economic downturn saw demand for luxury goods dry up.

It revised full year revenue downwards to between $11 - $15 million and expects to make an operating loss.