Wisetech shares surge on healthy half-year results
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More news: Shares in Wisetech Global surged over 11% on the ASX after the logistics software company reaffirmed its full-year guidance.
Shares were trading at $88.89 by 12:53pm after Wisetech reported year-on-year growth in first-half statutory profit, earnings and revenue, and increased its interim dividend to 7.7 cents per share.
Wisetech lifts half-year profit, dividend
The news: Logistics software company Wisetech has reaffirmed its full-year guidance after lifting first-half profit and dividends.
The numbers: The company said statutory profit for the six months to December 2023 was up 8% to $118.2 million, while earnings rose 23% to $229.9 million. Revenue jumped 32% from a year ago to $500.4 million, helped by organic growth and acquisitions including Australian firm Matchbox Exchange and Mexico’s Sistemas Casa.
It will pay an interim dividend of 7.7 cents a share, up from 6.6 cents a year ago.
The context: Wisetech said excluding recent acquisitions, revenue grew organically by 15% with strong growth in its CargoWise business. The company, which secured a new software rollout with Chinese logistics firm Sinotrans, said it now has contracts with 13 of the top 25 large global freight forwarders.
Based on current trends in supply chain volumes, Wisetech reaffirmed its full-year guidance for revenue to rise to a range of $1.04 billion to $1.095 billion, and earnings between $455 million and $490 million.
The source: ASX announcement
