Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


UPDATE: Wynyard shares rise to record as sales meet forecast

UPDATE: Wynyard shares extend gain to new record after 2013 sales meet forecast

By Paul McBeth

Jan. 13 (BusinessDesk) - Shares of Wynyard Group extended their recent rally to a new record after the intelligence software developer said it met its forecast sales target of $21.5 million last year.

The shares rose as high as $2.10, and recently traded at $2.05, up 7.9 percent on the day. That adds to last week’s surge of some 64 percent and values the company at $210.3 million.

The Auckland-based company, which was spun out Jade Software last year, today said annual sales rose more than 62 percent revenue in 2013. It also said the board will review its 2014 and 2015 business plans and targets in the first quarter of this year, according to the statement. Wynyard’s offer document projected 2014 revenue of $27 million.

“The couple of wins they’ve had are obviously highly impressive,” said Mark Lister, head of private wealth research at Craigs Investment Partners in Tauranga. “They’ve delivered on what they said they’d do, and that’s always important for a new company.”

In November, Wynyard brought forward recruitment of new sales and services staff to manage next year’s growth pipeline, adding between $1 million and $1.5 million to the forecast operating expenditure of $25 million for the 2013 calendar year.

Chief executive Craig Richardson said “the number of new opportunities materially increased in the fourth quarter of 2013 and we took steps in November to build capacity to qualify and service this increased demand.”

Wynyard will announce its full year results on Feb. 24.

Fund manager Milford Asset Management, which holds the stock, last week said the shares could climb to $2 apiece this year as investors factor in the company’s growth prospects.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news