Wellington Drive Technologies (NZX:WDT) reported total revenue of $15.4 million, for the three months ending 31 March 2020. There was some level of impact on 1QFY20 revenue due to COVID-19 disrupting the company’s Asian supply chain.
Other key highlights:
- Gross margin improved from 26.2% to 29.4% reflecting the ongoing focus on implementing various productivity improvement measures;
- EBITDA for the three months was $1.5 million versus $1.0 million for the same period last year;
- Net profit before tax for the three months, including the fair value adjustment, was $0.8 m, up from $0.1 million last year.
At NZST 12:54 PM, the stock was trading at $0.125 per share, up by 1.63% from its previous close.