NZ's Wellington Drive Technologies hits over 2-week high on FY outlook upgrade

Aofrio

21/11/2019 22:44

** Shares of Wellington Drive Technologies Ltd  WDT.NZ  rise
as much as 6.25% to NZ$0.170, their highest since Nov. 4
    ** Electric motors maker raises 2019 EBITDA guidance to be
in the range of NZ$3.5 mln ($2.24 mln) and NZ$4.0 mln ($2.56
mln), compared to earlier guidance range of NZ$3.0 mln and
NZ$3.5 mln  urn:newsml:reuters.com:*:nNZWbtjxst
    ** Co also expects revenue in 2019 to be above the NZ$58.8
mln reported for 2018
    ** Stock down 11.9% this year, as of last close
    
($1 = 1.5620 New Zealand dollars)

 (Reporting by A K Pranav; Editing by Lisa Shumaker)
 ((Pranav.AK@thomsonreuters.com;))