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Why the National Tyre (ASX:NTD) share price is surging up today // Motley Fool Australia
National Tyre & Wheel Ltd (ASX: NTD) shares rocketed up after the company reported that its trading for the first four months of FY21 had exceeded expectations. The update at today’s annual general meeting (AGM) sent the National Tyre share price up by almost 15% to 86 cents in early trade. Shares are now trading at 85 cents, up 13.33%.
Highlights from the AGM
National Tyre advised that earnings before interest, tax, depreciation and ammortisation (EBITDA) for the half year to 31 December 2020 is now expected to range between $11.5 million and $12.5 million.
The company said it expected the strong performance to continue in the second-half of FY21.
National Tyre shareholders were told that the tyre industry was proving…
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