It made millions by floating its boat.
Now recently listed ferry and tour operator SeaLink Travel Group says solid profit and revenue for January has put it on track to meet the full-year profit forecast lodged on its ASX debut.
SeaLink, which owns Sydney Harbour tour company Captain Cook Cruises, was first listed on the sharemarket last October with an issue price of $1.10 per share.
Since then, its share price has swelled to $1.67.
The Adelaide-based company, which also operates ferries to Kangaroo Island in South Australia as well as from Townsville and out of Darwin, reported a net profit of $3.4 million for the six months to December 31.
That included a one-off $600,000 fee for its ASX listing.
Without that one-off impact, SeaLink said it made a normalised net profit of $4.1 million, an increase of 5.2 per cent on the previous year's $3.8 million.
Its prospectus forecast net profit for the 2013/2014 fiscal year is $6.9 million.
Managing Director Jeff Ellison said last September's expansion into Darwin, along with growth in Captain Cook Cruises and Kangaroo Island SeaLink, drove sales revenue up by 9.4 per cent to $52.4 million.
A more than 10 per cent increase in operating expenses to $44.2 million reflected this, Mr Ellison said.
The company had also enjoyed a successful October due to crowds at the International Fleet Review in Sydney.
SeaLink invested $9.8 million in capital expenditure, buying two new vessels and upgrading the Penneshaw Terminal on Kangaroo Island.
Mr Ellison said the company was increasing its investment in line with a rise in international visitors.
"Our International business continues to grow on the back of strong visitor arrivals from Asia, with international sales revenue up 12 per cent for the half to $11.1 million," Mr Ellison said.
Shareholders will be paid a fully-franked interim dividend of 3.66 cents per share.
