AN INCREASE in revenue and earnings is justification for WiseTech’s global growth strategy, chief executive and founder Richard White says.
Mr White was speaking following the release of the freight software company’s 2019 financial results, with revenue up 57% to $348.3m and EBITDA up 39% to $108.1m.
Net profit was up 33% to $54.1m while operating profit was up 37% to 80.2m.
“We continued to deliver high quality growth in FY19,” Mr White said.
“[This was] a reflection of our strategy to accelerate WiseTech’s global growth and industry penetration, driven by geographic expansion, relentless innovation and deepening product capability, all of which saw usage by the world’s largest logistics providers increase.
“With the addressable market in technology for global logistics in the hundreds of billions and the spending on digital transformation hundreds of millions more again, we are moving fast to leverage our lead.”
Mr White said the business was expanding from its stronghold of international logistics and complex cross-border compliance and deepening its reach across the supply chain “putting in place the key technologies and assets to build out powerful ecosystems”.