Wellington Drive Technologies Q1 result

  • May 01, 2020 NZST
  • Team Kalkine
Wellington Drive Technologies Q1 result

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.

 


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