NZ's Wellington Drive Technologies falls, cut revenue guidance on virus uncertainty

Aofrio

15/03/2020 23:04

** Wellington Drive Technologies Ltd  WDT.NZ  falls as much
as 6.5% to NZ$0.130, its biggest intraday percentage fall since
Feb 28
    ** The electric motors maker says COVID-19 pandemic will
continue to impact both component supply and uncertainty in
customer demand of WDT  urn:newsml:reuters.com:*:nFWN2B61FI
    ** Co forecasts FY20 revenue to be around NZ$65 mln ($39.33
mln), which is below the initial expectation
    ** Stock hits its lowest level since March 3
    ** Stock down 19.2% this year, as of last close
       


($1 = 1.6526 New Zealand dollars)

 (Reporting by Aditya Munjuluru)
 ((aditya.srivastsav@thomsonreuters.com; 080 61822719;))