Wisetech Global Limited (ASX: WTC)- Wisetech steels the show today on ASX

Wisetech is in a spotlight today! After reporting double-digit percentage growth for the year to 30 June 2018, Wisetech stock sky-rocketed to $19.90, reflecting 27.23% positive price change.

Revenue was up 44%, Net profit after tax increased 28% to $40.79 million and EPS grew to 13.9 cents from 10.9 cents in fiscal 2017. Group’s revenue growth of $67.8 million to $221.6 million is driven by strong organic growth globally, product enhancements and features addition to CargoWise One technology platform, user growth and the acquisition of 15 strategic assets in new geographies.

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Earnings before interest tax, depreciation and amortization (EBITDA) increased 45% to $78 million from $53.9 million in previous corresponding year. As indicated by CEO Richard White the captivating growth in FY18 accounts to geographic expansion, relentless innovation & deepening product capability, and global data sets.

Information technology company has continued to generate positive cash flows during the year, with $74.2 million of net cash flows from operating activities. Gross profit margin remained constant at 83% in FY18.

Fully franked final dividend of 1.65 cents was declared during the year, in addition to interim dividend of 1.05 cents paid on 6 April 2018. The final dividend is scheduled for payment on 8 October 2018 to shareholders on registry at 12 September 2018.

The company expects revenue to range between $315 million to $325 million in FY19. EBITDA is forecasted to grow between 28% to 35%.

After releasing FY18 results early this day, Wisetech Global also announced the appointment of Andrew Harrison as independent Non-Executive Chair, replacing Charles Gibbon.

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