17 Jul 2009

Boat maker's revenue expected to be down

12:23 pm on 17 July 2009

Amphibious boat maker Sealegs expects its revenue for the year to March to be between $7 - $10 million, down on the previous year.

Chairman James Hill says Sealegs has been hit hard by the economic recession, but newly implemented cost cuts have put the company in a better position for the future.

Sales for the three months to June were $2.2 million.

Boat production rates have gone up due to an increase in new sales demand.