Windflow Technology expresses uncertainty; shares tumble
Windflow Technology's share price fell 20 percent to 60 cents today after the maker of wind turbines expressed uncertainty about the future.
The company (NZX: WTL) is looking for bridging finance while it waits for developments in the United Kingdom market.
Its directors informed the market today that trading conditions had not improved since it last made a statement on April 14.
The company was yet to receive orders from the UK, due to uncertainty about the tariff regime, and due to a larger competing product in that market.
This had created an increasing fundamental uncertainty regarding the future, the company said.
To address this, the company has restructured its manufacturing, reduced its overhead costs and is now actively realising certain assets.