Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sealegs Reports Revenue Up 71% for Half-Year

Sealegs Reports Revenue Up 71% for Half-Year

Auckland, 29 November 2007: Sealegs Corporation Limited (NZX:SLG) today announced a record consolidated operating revenue figure for the half year ending 30 September 2007.

The listed marine company reported trading revenue for the six month period of NZ$4,463,817, an increase of 71% on the same period last year of NZ$2,614,594.

A change in New Zealand International Financial Reporting Standards meant that the profit from operations of NZ$46,893 was adversely affected by unexercised share options of NZ$592,800, resulting in a NZ$545,907 loss.

There was a NZ$2,129,726 increase in the company’s net assets to $7,426,979 for the period, due to investment in stock and plant as a result of ramping-up monthly production output at the new Albany factory.

Chief Executive Officer, David McKee Wright says “this result once again reflects the growing demand and sales of our amphibious boats and the earnings flow which is coming from these boats. We are continuing to move forward with revenue growth and deficit reduction.”

Further to this, Mr McKee Wright said “over the reported period, Sealegs strengthened its management team, manufacturing capacity and product range.”

A total of 54 amphibious boats were shipped, compared to 34 in the previous half year period. Worldwide recreational sales continue to grow with 90 new boat orders taken in the period valued at $8.1M.

Sealegs recently announced that it is progressing in both Malaysia and South Korea in building an additional future revenue stream from the sales of its amphibious boats into the Flood and Rescue markets.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>

REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>

Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>

ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>

Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>