- The YTD return is often used to determine a firm’s performance from the start of the ongoing year till date.
- Rakon boasts a high YTD return of 216.29%.
- Wellington Drive Technologies reports a solid FY21, gives vision for FY22 as well as FY23.
Informed investors are always on the lookout for those companies which offer good YTD returns. An important financial metric, YTD return, simply implies the profit made by the Company from the beginning of the current year till date.
Analysts and economists make use of this crucial information to gauge the performance of various companies and investment portfolios.
That said, let us get acquainted with the three NZX stocks having impressive YTD returns.
Source: © 2021 Kalkine Media® data source- Refinitiv
Rakon Limited (NZX:RAK)
Rakon Limited is famous for designing frequency control products and has a solid YTD return of 216.39%. It has been revealed that Dr Sinan Altug, its Chief Operating Officer, will now take up charge as RAK’S Chief Executive Officer from April 2022 onwards.
Rakon’s management opined Altug, as RAK's COO, has played a vital role in establishing the Company's product leadership in the telecom space.
Further, Brent Robinson, the current CEO, would continue to be on Board as an Executive Director.
At the end of the trading session, on 24 December, Rakon was flat at NZ$1.95.
Wellington Drive Technologies Limited (NZX:WDT)
Wellington Drive Technologies Limited is globally acclaimed for offering refrigeration control solutions to its customers, which boasts offering 133.77% as its YTD return. A few days ago, the Company stated that its FY21 revenue is expected to be around US$47 million, while its EBITDA is likely to be at NZ$3.9 million, though it would remain subject to risks associated with the supply chain.
Further, it is hopeful of maintaining a solid cash position towards the year-end with a net cash of about NZ$5 million.
Moreover, backed by solid fundamentals and strong customer demand, WDT anticipates continued growth in its revenue in FY22, which is forecasted to clock nearly US$60 million and aims for NZ$100 million of revenue by FY2023.
At the end of the trading session, on 24 December, Wellington Drive Technologies traded, up by 2.78% at NZ$0.18.
Geo Limited (NZX:GEO)
Having a YTD return of 68.60%, Geo Limited is a well-known software and IT-based business across New Zealand. Earlier this month, it had announced the successful completion of its share placements, which saw a capital raise of about NZ$7 million. The proceeds from the offer would be used to support its growth initiatives as well as to enhance its current business operations.
It is noted that the said placement offer was highly oversubscribed, and the surplus would be refunded as per GEO's terms.
At the end of the trading session, on 24 December, Geo was up by 0.74% at NZ$0.14.
YTD return is an important financial metric to check a company's performance and comparing it with its peers before considering it for a portfolio.