31 May 2012

Lower losses reported by boat maker

6:01 am on 31 May 2012

Sealegs Corporation has reduced its losses.

The amphibious boat maker lost $1.9 million in the year to March, a decrease of 47% compared with the previous year.

Sales rose 38% to $13.8 million due to selling more boats and lower costs due to restructuring the business last September.