NZ's Wellington Drive hits 1-month high; co maintains FY18 guidance

Aofrio

19/10/2018 02:31

** Shares of electric motors maker Wellington Drive
Technologies Ltd  WDT.NZ  rise as much as 9.1 pct to NZ$0.180,
their highest since Sept 17
    ** Co posts 62 pct rise in quarterly revenue y-o-y, says
EBITDA improved by NZ$1 mln ($654,300) during the period
 urn:newsml:reuters.com:*:nNZS28yGa
    ** Co maintains FY18 guidance, says revenue for H2 2018 is
expected to be consistent with H1 
    ** Stock poised for a fourth straight session of gains
    ** As of last close, stock up 3 pct this year compared with
an over 6 pct increase on the S&P/NZX 50 index  .NZ50  

($1 = 1.5284 New Zealand dollars)

 (Reporting by Sumeet Gaikwad in Bengaluru)
 ((sumeet.gaikwad@thomsonreuters.com; +91 80 6749 8990; Reuters
Messaging: sumeet.gaikwad.thomsonreuters.com@reuters.net))