ERoad cuts earnings guidance for second year, shares drop 9.6%

Sun, 27 Sep 2015

By Fiona Rotherham Sept. 28 (BusinessDesk) - ERoad, the electronic road user charges and transport services company, said it’s unlikely to meet its financial forecasts in 2016, the second straight year it would miss the target, after acceleration of its US expansion hurt short-term sales and added costs. The shares dropped 9.6 percent. The Auckland-based company expects net profit of $500,000 for the year ending March 31, 2016, compared to the $5.3 million outlined in May, and projects revenue of $26.5 million, $2.1 million less than fore...

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