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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news