Sealegs, the amphibious boatmaker, has revealed its first-ever operating profit since listing on the NZX in 1994. The company's shares registered a 29 per cent climb.

The shares soared 5 cents touching 22 cents on the NZX today, the highest since late January. The stock hiked 50 cents in May 2008.

The Auckland-headquartered manufacturer and marketer of aluminum hulled boats capable of 10 kilometers an hour on land and 60kph on water posted that it has recorded a $642,000 profit in the year ended March 31, compared form a year-earlier loss of $869,000 loss.

Sealegs Chief Executive, David McKee Wright posted that its profit rebounded, recorded on similar sales to last year of about $11.4 million, was supported by changes in sales strategy and a reduction in expenses.

"When you consider the difficult worldwide economic conditions and the destruction within the worldwide marine market, Sealegs has done extremely well," McKee Wright quoted. "While most marine market companies have seen drastically reduced revenue results and restructuring, Sealegs has been able to grow market sectors and more importantly become profitable".

Sealegs announced that its operating and cash expenses, combined with non-cash expenses registered a fall $5.45 million touching a net positive $406,000, from a loss of $5.7 million recorded last year.