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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Stock of the day: WiseTech Global

WiseTech Global reported a 28% revenue increase to $1.04 billion and a 24% rise in net profit to $263 million, driven by strong CargoWise performance.

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This video was created on 21 August for IG audiences by ausbiz.

Stock of the day: WiseTech Global (ASX:WTC)

WiseTech reports impressive growth

Wisetech Global, the logistics software maker, reported a 28% increase in full-year revenue, reaching $1.04 billion, while net profit rose by 24% to $263 million. The company's flagship product, CargoWise, contributed significantly, with a 33% revenue increase.

WiseTech announced plans to launch three new products in the first half of the financial year and declared a final dividend of 9.2 cents per share, up 10% from the previous year. The company is forecasting revenue between $1.3 billion and $1.35 billion, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth expected to range from 33% to 41% this financial year.

Following these results, WiseTech's shares hit a record high, surging 16% today.

Market reaction and investment outlook

Analysts are impressed by Wisetech’s growth and the strong performance of CargoWise. Despite the recent price increase, which saw shares jump from $83 to over $110, experts suggest holding the stock for now, with a recommendation to buy during any future market dips.

WiseTech’s continued innovation, as evidenced by its upcoming product launches, positions it well for sustained growth in the logistics software market.

Long-term potential amid high valuation

While Wisetech's current price-to-earnings (P/E) ratio is high, at 94 times earnings, the company’s consistent delivery on growth targets makes it a quality investment.


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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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