Sealegs revenue up

Marine company Sealegs reported a 71 per cent increase in six-month revenue to nearly $4.5 million, and a net loss of $545,907.

Sealegs blamed the loss for the period ended September on the new financial reporting standards, and said profit from operations was $46,893.

Purchase of new plant saw the company's net assets rise to $7.43 million.

Chief executive David McKee Wright said the result reflected growing demand and sales of the company's amphibious boats. In the half-year 54 were shipped, 20 more than the previous period.