New Zealand's Gentrack rises on swinging to profit, positive forecast

Gentrack

28/11/2023 01:03

** Shares of Gentrack Group  GTK.NZ  rise as much as 8.3% to
NZ$5.59, set for best day since May 22, if gains hold
    ** Software and services firm posts FY23 statutory NPAT of
NZ$10 mln ($6.10 mln), compared to a NZ$3.3 mln loss in FY22
    ** Co upgrades FY24 revenue guidance to NZ$170 mln from
previous guidance range of NZ$157 mln-NZ$160 mln 
    ** GTK sees FY24 EBITDA of NZ$20.5 mln-NZ$25.5 mln; upper
range slightly above NZ$23.2 mln in FY23
    ** Stock up 2.1% YTD as of last close
 


($1 = 1.6399 New Zealand dollars)

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