Sealegs turns to full-year profit, benefits from selling hulls and technology to overseas manufacturers

Sun, 29 May 2016

By Sophie Boot May 30 (BusinessDesk) - Sealegs, the amphibious vehicle maker, turned to an annual profit after adopting a new strategy, lifting its sales and profit margin. Net profit was $507,576 in the year ended March 31, from a loss of $2.4 million a year earlier, the Auckland-based company said in a statement. The company's newly adopted original equipment manufacturer (OEM) hull strategy, where Sealegs makes a hull fitted with its own technology which gets used by another company, letting it use an existing manufacturer's scale t...

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