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

  • Aug 22, 2018 AEST
  • Team Kalkine
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.

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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