Motor maker Wellington Drive narrows full-year loss, improves sales and cost control

Fri, 26 Feb 2016

By Fiona Rotherham Feb. 26 (BusinessDesk) - Wellington Drive Technologies, the maker of energy efficient motors, has reported a smaller loss with increased sales and better inventory and cost control. The net loss was $2.3 million for calendar 2015, compared to a loss of $4.4 million in 2014, with the exchange rate working in its favour, the Auckland-based company said in a statement. The loss on an earnings before interest, tax, depreciation and amortisation basis was $1.4 million against $4 million the prior year and the company had ear...

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