Sealegs ekes out full-year profit, raising prices as volume of boats sold slips

Mon, 20 May 2013

May 21 (BusinessDesk) – Sealegs Corp, which makes amphibious boats, posted a return to full-year profit after raising prices while sales of its vessels slipped. Profit was $204,000 in the 12 months ended March 31, from a loss of $1.86 million a year earlier, the Auckland-based company said in a statement. Sales rose about 19 percent to $16.4 million. The company sold 104 boats in the latest year, from 106 vessels 12 months earlier, though this was offset by an increase in the average unit price of 17 percent to $149,000 as it introduced new...

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