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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.
