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Sealegs International yesterday announced the delivery and deployment of the first of six new amphibious boats in Italy and the appointment of a new distributor for the Middle East.
The news sent its share price up 8 per cent, or 6c, to 78c. In late July it was trading at 16c. Chief executive David McKee Wright also confirmed that its new Kuwait-based distributor, Middle East Mariner, had placed an initial order for 12 Sealegs amphibious boats which represents more than $800,000 of forward revenue.
This takes Sealegs' forward orders to more than 50 pre-sold boats worth $4 million in future revenue. Sealegs has now appointed seven international distributors throughout Europe, the Middle East and Asia.
