Gentrack shares drop to four-year low

Mon, 20 Jan 2020

Gentrack shares fell to new lows after the company announced this year’s earnings may fall as much as 67.7 percent due largely to increased regulation in Australian and British energy markets.The share price dropped 9.2 percent to $2.47 in early trading on the NZX after the utilities software developer outlined the financial impact of last week’s profit warning. Regulated price caps on electricity in the UK and Australia prompted Gentrack’s customers to either cut or put off IT investment, hitting the company’s already soft sales projectio...

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