WISETECH Global reported significant increases in revenue and profit for the first half of the 2023 financial year, shortly after announcing the US$414-million acquisition of Blume Global.

WiseTech’s revenue for the six months to 31 December 2022 came to $378.2 million for, a 32% increase on the same period in 2021.

The company’s statutory NPAT of $190 million was an increase of 41% on the same period last year.

WiseTech founder and CEO Richard White said the results highlight the “continued resilience of our business model”.

“Our ability to deliver strong growth in revenue, earnings and free cash flow, in a softening global macroeconomic climate, is the result of a tremendous effort by our teams around the world and we’re immensely proud of the progress we are making towards our vision of being the operating system for global logistics,” Mr White said.

“We continue to see strong demand for our products from the world’s largest freight forwarders, having secured four new global rollouts and three organic global rollouts since July last year. CargoWise is rapidly becoming the industry standard.

Mr White said the company secured its first global customs rollout with Kuehne+Nagel.

“This is a testament to the success of our foothold acquisition strategy and our customs product development, as we build out a global customs engine,” he said.

“We now have 47 large global rollouts in place, including 11 of the top 25 global freight forwarders, with a significant pipeline of new customers and the opportunity to deepen our penetration with existing customers.”

Mr White said the company uses targeted acquisitions to accelerate the development of the CargoWise product and give us further reach in the global logistics ecosystem.

“We completed two further tuck-in acquisitions in the first half in Bolero and Shipamax, and recently we announced the strategic acquisitions of Envase Technologies and Blume Global, both leading landside logistics businesses, which together extend and strengthen our position in one of our six key development priority areas.”