WiseTech Global’s full-year profit has jumped 32.7 per cent to $54.1 million, with the logistics software provider citing strong organic revenue growth and a raft of international acquisitions.
Revenue for the 12 months to June 30 surged 57 per cent to $348.3 million and chief executive Richard White says he expects that to grow by as much as another 32 per cent in FY20.
Mr White says the increasing prevalence of tariffs, regulation and taxes are creating “ever stronger tailwinds for greater adoption” of WiseTech’s software as the firm raised its final dividend by 0.3 of a cent to a fully franked 1.95 cents.
“The opportunity available to us is vast and while our growth rates to date have been strong our penetration of both customers and addressable markets is still in the early stages,” Mr White said.
Revenue from existing customers increased $46.8 million, including $9.2 million of favourable foreign exchange movements, thanks to its global reach and uptake from logistics organisations.
The software solutions provider said strong revenue growth was supported by the addition of more than 830 internal product enhancements to its CargoWise One technology platform.
On top of organic growth from its existing technology platform, WiseTech announced at the beginning of this year it was in the process of acquiring 15 software businesses.
AAP
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