Wistech (ASX:WTC) downgrades revenue guidance due to coronavirus

Wistech Global (ASX:WTC) has reported net profit (NPATA) of $33.5 milion for 1HFY20 a rise of 22 per cent on the same time last year.

Total first half revenue of $205.9m increased by 31 per cent.

Earnings (EBITDA) of $62.5m rose 29 per cent.

The company declared fully franked interim dividend of 1.70 cents per share.

Looking forward, the company has downgraded its earnings and revenue forecasts due to the impact of the coronavirus.

Revenue guidance has dropped from a range of $440 million – $460 million to between $420 million -$450 million.

Shares in Wisetech Global are trading 17.9 per cent lower at $24.18

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Source: Finance News Network