NZ's Gentrack hits 3-1/2-year high as half-year profit more than triples

Gentrack

22/05/2023 24:36

** Shares of Gentrack Group Ltd  GTK.NZ  climb as much as
21.7% to NZ$4.15, their highest since Nov 28, 2019
    ** Software co posts HY net profit from cont ops of NZ$7.9
mln ($5.01 mln), up 235.14%
    ** HY total revenue rises 47.71% to NZ$84.3 mln
    ** For FY23, co expects revenue to be between NZ$157 mln and
NZ$160 mln vs previous guidance of NZ$147 mln to NZ$150 mln
    ** Stock posts its biggest intraday pct gain since Nov 30
    ** More than 634,900 shares change hands, six times the
30-day average volume 
    ** Stock up 34.8% this year, as of last close

($1 = 1.5763 New Zealand dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))