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

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news