New Zealand's Gentrack gains after earnings outlook upgrade

Gentrack

20/05/2024 01:09

** Shares of Gentrack Group  GTK.NZ  rise 6.8% to NZ$8.5,
set for their best day since Dec 4, 2023, if gains hold
    ** The software solutions firm upgrades FY24 EBITDA outlook
to NZ$23.5 mln ($14.41 mln)-NZ$26.5 mln range, from previous
range of NZ$20.5 mln to NZ$25.5 mln
    ** Co now sees FY24 revenue of NZ$200 mln, up from previous
forecast of NZ$170 mln
    ** Says EBITDA of NZ$12.3 mln in HY, and tracking well
against FY24 outlook
    ** Gentrack stock up 20.2% YTD, as of last close 
 
    ($1 = 1.6303 New Zealand dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))