May 1, 2020 / 8:07 AM / a month ago

BRIEF-Wellington Drive Technologies Posts QTRLY Revenue NZ$15.4 MLN

May 1 (Reuters) - Wellington Drive Technologies Ltd :

* BOARD OF DIRECTOR FEES REDUCED BY 50%

* QTRLY NET PROFIT BEFORE TAX INCLUDING FAIR VALUE ADJUSTMENT NZ$0.8M VERSUS NZ$0.1M

* POSTPONEMENT OF 2019 PERFORMANCE PAYMENT INTO 2021

* PLANNING FOR DEMAND TO BE WELL DOWN IN 2020 ON 2019 LEVELS

* IMPLEMENTED A HIRING FREEZE FOR BALANCE OF 2020

* DEFERRED $2M 2020 CAPEX SPEND Source text for Eikon: Further company coverage:

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