WiseTech chief executive Richard White says the pandemic will produce longer term tailwinds for the business.

WiseTech chief executive Richard White says the pandemic will produce longer term tailwinds for the business.Credit:Peter Braig

WiseTech also reported signs of a logistics industry recovery from COVID.

"Container bookings on CargoWise is up year-on-year in July as freight volumes recover,"said Citi analyst Siraj Ahmed.

Tempered market expectations also helped WiseTech,according to TMS Capital portfolio manager Ben Clark.

“Wisetech didn’t really have the share price re-rating coming out of COVID"that a lot of other tech stocks experienced,said Mr Clark,who has been a long-term investor in the stock. He said the unprecedented level of information about the business,released with this result,also helped placate market doubts about the business.

“I’ve listened to Richard every half since they floated and this was by far the most comprehensive reporting I’ve seen around their numbers,” Mr Clark said.

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WiseTech remained cautious about the outlook for the current year given the unpredictable outbreaks of the pandemic.

Based on current market conditions,WiseTech anticipates revenue growth in the range of 9 to 19 per cent which translates to revenue of $470 million to $510 million. It predicts earnings before interest,tax depreciation and amortisation (EBITDA) growth of 22 to 42 per cent,which would be in the range of $155 million to $180 million.

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WiseTech pipped expectations for 2020,reporting a 23 per cent lift in revenue to $429.4 million for the year to June 30 and a 17 per cent lift in EBITDA to $126.7 million.

Underlying net profit,which excludes $111 million worth of gains which include the restructure of earnouts from acquisitions,was flat at $52.6 million. WiseTech declared a fully franked dividend of 1.6c a share.

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