NZ's Wellington Drive revs on strong Q1 results, FY guidance

Aofrio

09/04/2019 23:48

** Shares of Wellington Drive Technologies Ltd  WDT.NZ  rise
as much as 8.5% to NZ$0.255, their highest since Feb 25
    ** Electronically commutated motor manufacturer posts Q1
revenue NZ$15.8 mln, up 33 pct; Q1 EBITDA NZ$1.1 mln vs NZ$0.0
mln  urn:newsml:reuters.com:*:nFWN21R0S1
    ** Co says it expects 2019 EBITDA and net profit to be
higher than year ago; sees FY revenue to be flat to slightly up
vs 2018
    ** Stock posts its biggest intraday pct gain since March 25 
    ** More than 152,000 shares traded vs 30 day avg of 88,341
shares
    ** Stock has risen more than 20 pct this year, as of last
close

 ((Reuters Messaging:
Nikhil.Subba.thomsonreuters.com@reuters.net))