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Highlights
- Technology stocks offer great long-term prospects.
- Geo organises its Annual Meeting, re-appoints BDO Wellington as its auditor.
- Gentrack Group announces its FY21 results with an 8.8% increase in its revenue.
One sector which thrived during the current global crisis is none other than the technology sector. Hence, technology stocks remain an attractive investment avenue for investors worldwide. These comprise software developers, gadget makers, cloud computing and wireless providers, and many more.
With this overview, let us look at the three NZX tech stocks with sound YTD returns.
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Geo Limited (NZX:GEO)
Focusing on providing mobile solutions is Geo Limited. The Company today conducted its 2021 Annual Meeting.
Among many other business-related resolutions, shareholders voted in favour of the re-election of GEO's retiring directors.
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Also, BDO Wellington Audit Limited has been re-appointed as the Company's auditor, and directors have been authorised to fix its fees.
Shares of Geo was trading flat at NZ$0.180, at the time of writing on 30 November.
Serko Limited (NZX:SKO)
This tech company specialises in corporate travel and expense management. Recently, the Company announced the completion of its placement offer amounting to NZ$75 million, which was well supported by institutional as well as other select investors.
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The said funds would enable SKO to invest in future growth.
It is noted that the settlement of the placement offer would occur on 1 December for the NZX.
On 30 November, at the time of writing, Serko was trading up by 0.63% at NZ$6.410.
Gentrack Group Limited (NZX:GTK)
Gentrack Group Limited offers smart cleantech solutions to various utilities across the globe. Recently, the Group unveiled its FY21 results, with a 5% increase in its EBITDA amounting to NZ$12.7 million for the period ended 30 September 2021.
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Underpinned by an increase in the utilities’ business clubbed by growth from existing customers as well as new customer wins, GTK’s revenue rose by 8.8% to NZ$81.8 million, while its statutory NPAT stood at NZ$3.2 million during the said duration.
The Group boasts a healthy pipeline and is prepped up for the year ahead with FY22 group revenues to be at least NZ$105.7 million.
Gentrack Group was trading flat at NZ$1.800 on 30 November, at the time of writing.
Bottom Line
Investors can invest in technology stocks as they often result in gains in the long run.