NZ's Gentrack Group eyes best day in 4 months on raising forecasts

Gentrack

29/09/2021 23:41

** Software maker's shares  GTK.NZ  jump as much as 8.44% to
NZ$1.67; stock records steepest single-day pct gain since May 27
    ** Company forecasts FY revenue to be about NZ$105.0 mln
($72.2 mln), up from its previous outlook of slightly over
NZ$100.5 mln  urn:newsml:reuters.com:*:nGLF7bvSnP
    ** Gentrack expects FY EBITDA at about NZ$12 mln, up from
its previous outlook of about NZ$10 mln
    ** Company says revenue for 2021 H2 has been stronger than
expected in utilities segment
    ** Gentrack, which provides software solutions to utilities
and airports, says updated forecasts due to higher throughput
and slower-than-expected increase in R&D spend
    ** Company's shares flat YTD, as of Wednesday's close
     
 ($1 = 1.46 New Zealand dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))