Insights 23rd February 2022
WiseTech reports guidance upgrade | WiseTech Global (ASX:WTC) Reporting Season Results
WiseTech (ASX:WTC) reported strong half year financial performance, with strong revenue and cash generation reflecting operating leverage.
WTC demonstrated revenue growth and earnings expansion, reporting total revenue increased 18% to $210 million, driven by increased market penetration and customer usage. Underlying NPAT rose 77% to $77.3 million, and underlying EPS up 77% to 23.7cps.
As WiseTech works toward being the operating system for global logistics, their strategy involves extending their technology lead, expanding market penetration, and driving operational efficacy.
WTC continues to invest in research and development, viewing innovation as a top priority. This includes its CargoWise product, with product development and acquisition strategies underway.
Management reaffirmed its full year revenue growth guidance of 18% to 25% and upgraded its EBITDA guidance to 33% to 43% growth.
WTC declared a fully franked interim dividend of 4.75cps, up 76%.
At the time of recording, WTC’s share price has gained 3%.