Sealegs narrows FY loss on rising sales, lower marketing spend

Wed, 30 May 2012

By Paul McBeth May 30 (BusinessDesk) - Sealegs Corp, which makes amphibious boats, halved its annual loss after boosting sales by more than a third and embarking on a restructuring programme that slashed its marketing bill. The Auckland-based company made a loss of $1.9 million in the 12 months ended March 31, from a loss of $3.6 million a year earlier. Sealegs boosted revenue 38 percent to $13.8 million, while stripping $1.4 million from its annual marketing spend to $1.1 million. Sealegs is working with a South Korean shipbuilding compan...

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