- Wellington Drive Technologies aims at future growth and development.
- Gentrack Group assumes a positive outlook.
- Sanford Limited appoints a new CEO.
Wellington Drive Technologies (NZX:WDT)
Wellington Drive Technologies provides IoT solutions in various sectors. The Company is recently in the limelight for its newly announced trading and earning updates. According to the renewed revenue guidance, the expected revenue ranges between US$40M to US$43M. The Company is focussed on strengthening its finances in the future. The fourth quarter revenue earned by the Company was NZ$10.4M till 30 December 2020.
On 25 February, Wellington Drive Technologies closed flat at NZ$0.090.
Image Source: © Zalakdagli | Megapixl.com
Meridian Energy Limited (NZX:MEL)
This dual-listed energy company operates in Australia as well as New Zealand. In January 2021, the Company offered higher national hydro storage, going to 80% from 79%. While the North Island storage saw a decrease of 97%, there was a 78% increase in the Southern Island storage as on 11 February. On 24 February, there was an announcement for the issuance of share rights, which will commence by March 2021.
On 25 February, Meridian Energy Limited was trading at NZ$5.630, up by 2.36% at the time of writing this article.
NZME Limited (NZX:NZM)
The operating revenue recorded by the Company in 2020 is N$331.2M, the operating EBITDA N$67.3M, and the operating NPAT was recorded at N$22.0M. The Net debt in the duration was down at N$40.9M. The way the Company handled itself in the times of COVD-19 crisis shows its resilience and strategic planning in order to stay relevant in the industry, with effective capital management being the primary focus.
On 25 February, NZME Limited was trading at NZ$0.850, down by 5.56%, at the time of writing this article.
Gentrack Group limited (NZX:GTK)
Offering essential software services, this Company is known to have a global presence. According to the annual report for the year 2020, the Company collected a revenue of NZ$100.5M and the EBITDA of NZ$12.1M. The net cash witnessed an increase of 263% to become N$16.8M. While the Company decided against paying dividend, its outlook remains hopeful of being able to tackle the economic turn of events due to COVID-19. The revenue for FY21 is expected to be more than that of the previous year, as well as a N$5M EDITDA is expected along with a positive cashflow.
On 25 February, Gentrack Group Limited was trading at NZ$1.560, up by 5.41% at the time of writing this article.
Image Source: © Singidavar | Megapixl.com
Sanford Limited (NZX:SAN)
This seafood-centric company in its annual report released in November 2020 exhibited the revenue of N$468.8M after incurring a 14% decline from pcp. The underlying EBITDA till September 2020 was recorded N$38.3M and the NPAT was N$22.4M. Andre Gargiulo, the CEO, is of the view that the Company is working towards adjusting with the dynamic market conditions to ensure better results in the future. It was further announced on 27 January that the new CEO Peter Riedie should assume his position by 6 April 2020.
On 25 February, Sanford Limited was trading at NZ$4.530, up by 0.67%, at the time of writing this article.