NZ's Wellington Drive Technologies rises on upgrade of FY outlook

Aofrio

22/10/2019 24:17

** Wellington Drive Technologies Ltd  WDT.NZ  rises as much
as 8.2% to A$0.185, its highest since Sept 19 
    ** Electric motors maker upgrades 2019 EBITDA guidance, sees
it between NZ$3.0 mln and NZ$3.5 mln ($1.92 mln - $2.24 mln)
from expecting around NZ$3.0 mln  urn:newsml:reuters.com:*:nFWN2760Y2
    ** Says full-year net profit is now expected to be around
breakeven
    ** For 2020, says revenue growth of 10% is possible
    ** Posts 9-mnth revenue of NZ$45.9 mln, up 13% 
    ** Stock posts its biggest intraday pct gain since Oct 9; on
track to rise for third straight session 
    ** As of last close, shares down 12.3% this year
($1 = 1.5618 New Zealand dollars)

 (Reporting by Anushka Trivedi in Bengaluru; Editing by
Muralikumar Anantharaman)
 ((Anushka.Trivedi@thomsonreuters.com; +918067491413;))