Sealegs wobbly

Amphibious vehicle maker Sealegs Corp reported a $784,000 loss in the six months to September 30, from a $876,000 loss in the same period last year. Revenue fell 44 per cent to $4.32 million. During the half-year Sealegs invoiced 36 boats and at September 30 had more than 40 boats on order, representing approximately $4 million of forward revenue. "The first three months of the reported period were disappointing and difficult but recent sales activity suggests the worst is behind us and the company should enjoy a much better second half to the year," chief executive David McKee Wright said.