MARKET CLOSE: NZ shares fall as Gentrack sinks on profit warning

Fri, 22 Nov 2019

New Zealand shares fell, led lower by Gentrack, after the utilities software developer downgraded its earnings and gave a flat outlook for 2020. The S&P/NZX 50 Index decreased 11.86 points, or 0.1 percent, to 10,946.30. Within the index, 16 stocks fell, 20 rose, and 14 were unchanged. Turnover was $138.7 million. Gentrack dropped 12.6 percent to $4.50, the lowest close in more than two years, after it said earnings before interest, tax, depreciation and amortisation were below its previous guidance range of $25-26 million in the year en...

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