By Stuart Condie

SYDNEY--WiseTech Global raised its interim dividend and said it remained confident in its outlook despite an exodus of directors unhappy with the continuing role of the logistics-software provider's former CEO.

WiseTech, reporting its financial results in U.S. dollars for the first time, on Wednesday posted a net profit for the six months through December of $106.4 million, up 38% on a year earlier.

Revenue rose 17% to $381.0 million on customer growth including rollout of its CargoWise platform by global freight forwarders. It said it added Nippon Express and Logisteed as customers early in its fiscal second half.

A year ago, the company reported a first-half profit of 118.2 million Australian dollars, then equivalent to $77.1 million. It announced the currency switch in December, saying that the U.S. dollar had become the most significant component of its income.

The profit announced on Wednesday was equivalent to A$167.6 million.

The average analyst forecast had been for a net profit of A$165.3 million off revenue of A$596.6 million, according to data compiled by Visible Alpha.

The board raised the interim dividend by 31% a year ago, to 6.7 U.S. cents.

WiseTech reported earnings before interest, tax, depreciation and amortization of $192.3 million, at an improved 50% margin. The company repeated its comments from earlier this week that it expects annual revenue and Ebitda at the lower end of its downgraded guidance ranges.

It anticipates revenue of $792 million-$858 million, and earnings of $396 million-$436 million, with an Ebitda margin at the top of its 50-51% guidance range.

"The opportunity for future growth is substantial and underpinned by our strategic investments in technology, our breakthrough products and our global teams relentless focus on adding long-term value for our global supply chain customers," said Interim CEO Andrew Cartledge.

WiseTech said it has launched its new ComplianceWise and CargoWise Next products, and that it plans an initial launch of its Container Transport Optimisation product before the current fiscal year ends in June.

Downgrading its guidance in October, WiseTech cited the delayed rollout of new products amid founder Richard White's exit as CEO following negative media reports regarding his behavior.

At the time, the company said initial findings from a review into White had largely cleared him of wrongdoing. But this week it announced the resignations of Chair Richard Dammery and three other directors due to their unhappiness over the detail of his new consultancy role.

The announcement of the resignations prompted a 20% fall in WiseTech shares, their heaviest one-day decline in more than five years.

Cartledge delayed his planned retirement as chief financial officer to lead WiseTech while it replaces White, who is also the company's largest shareholder.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

February 25, 2025 17:18 ET (22:18 GMT)

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