Motor maker lifts sales

Wellington Drive Technologies, the unprofitable maker of energy efficient motors, lifted first-half sales 28 per cent, beating guidance, as the company benefited from the recent slump in the Kiwi dollar against the greenback. The Auckland-based company said sales were $13.5 million in the six months ended June 30, ahead of the $12 million to $13 million range it forecast, and up from $10.6 million a year earlier. Earnings before interest, tax, depreciation and amortisation was at breakeven, ahead of the predicted ebitda-loss of less than $500,000, and an improvement on an ebitda-loss of $2 million a year earlier.