WiseTech Raises Dividend as Annual Underlying Profit Increases 30%

By Stuart Condie

SYDNEY--WiseTech Global raised its dividend and flagged further earnings growth after the logistics software provider lifted annual profit 30%.

The ASX-listed company on Wednesday reported an underlying net profit for the 12 months through June of 247.6 million Australian dollars (US$159.0 million), compared with A$189.8 million a year earlier. Revenue rose by 29% to A$816.8 million.

The board declared a final dividend of 8.4 Australian cents, compared with 6.4 Australian cents a year earlier.

Including one-off items, statutory profit rose by 9% to A$212.2 million. Earnings before interest, tax, depreciation and amortization rose by 21% to A$385.7 million, or by 28% to A$412.1 million once acquisition costs were stripped out.

WiseTech had guided for annual revenue of A$790 million-A$822 million and Ebitda of A$380 million-A$412 million, excluding acquisition costs. It agreed to pay a total US$644 million for intermodal rail-solutions provider Blume Global and transport-management software provider Envase Technologies.

The average analyst forecast had been for an underlying net profit of A$244.8 million off revenue of A$807.3 million, according to data compiled by FactSet.

WiseTech forecast revenue growth of 27-34% in FY 2024, along with Ebitda growth of 18-27%.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

August 22, 2023 18:52 ET (22:52 GMT)

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