Gentrack shares plunge as it gets cold shoulder from UK’s E.ON

By Paul McBeth | Wed, 15 Jan 2020


Gentrack shares dropped to a three-year low after UK electricity retailer E.ON suspended its planned deployment of the Kiwi firm’s billing platform, adding another headwind to an already tough market.The shares plunged 22.8 percent to $3.04 when trading opened, the lowest since February 2017.The NZX-listed utilities software developer said it will update its earnings outlook for the year ending Sept. 30 over the next week, once it has worked out how much worse the market conditions have been relative to expectations and what the E.ON decision m...