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Electricity-saving motor manufacturer Wellington Drive Technologies expects to break even in the second half of next year.
The company, which reported a $3.9 million loss for the half year to December, told shareholders yesterday that it was now well placed to deliver motors on a larger scale.
The company expects to see strong revenue growth continue in 2008, and to hit a break-even position in the second half of 2009.
Chairman Rick Boven said that earlier this year the company held cash reserves of more than $20 million, $12.8 million of which was from UBS' Global Innovator Fund.
It was moving manufacturing to "the next level" by adopting advanced electronics manufacturing methods to improve margins.
