Sealegs reports annual loss, revenue rises

Sealegs Corp has reported a $3.58 million loss from revenue of $10.1 million and says it has cash reserves of $4.6 million as at March 31.

The loss in the year to March 31 was wider than the $2.97 million in the previous year, when the company recorded a $2.6 million impairment of assets. The revenue was up 11.6% on last year.

The amphibious marine craft maker said it was working on developing European and North American markets and this would have short-term costs.

NZPA

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