Wellington Drive shares jump 10% on ebitda profit, revenue lift in 2016

By Sophie Boot Feb. 1 (BusinessDesk) - Wellington Drive Technologies, which makes energy efficient motors for commercial refrigerators, posted its first profit before interest, tax, depreciation and amortisation (ebitda) after lifting revenue 44 percent in 2016. Revenue rose to $35.3 million in the year to Dec. 31 from $24.6 million a year earlier, the company said. Its target of a "modest ebitda profit" was achieved and gross annual margin rose to 24.4 percent, from 22.2 percent in 2015. Wellington Drive uses ebitda because it believes t...