Brief: Wellington Drive Technologies Posts QTRLY Revenue NZ$15.4 MLN

Aofrio

01/05/2020 09:04

May 1 (Reuters) - Wellington Drive Technologies Ltd
 WDT.NZ :
    * QTRLY REVENUE NZ$15.4 MILLION VERSUS NZ$15.8MLN
    * BOARD OF DIRECTOR FEES REDUCED BY 50%
    * QTRLY NET PROFIT BEFORE TAX INCLUDING FAIR VALUE
ADJUSTMENT
NZ$0.8M VERSUS NZ$0.1M
    * CHAIRMAN FEES REDUCTION OF 100%
    * CEO SALARY REDUCTION OF 30%
    * POSTPONEMENT OF 2019 PERFORMANCE PAYMENT INTO 2021
    * PLANNING FOR DEMAND TO BE WELL DOWN IN 2020 ON 2019 LEVELS
    * IMPLEMENTED A HIRING FREEZE FOR BALANCE OF 2020
    * DEFERRED $2M 2020 CAPEX SPEND

Source text for Eikon:  ID:nNZW2h4s3q 
Further company coverage:  WDT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))