A string of acquisitions has helped logistics software company WiseTech Global to boost its revenue by more than one-third.
The ASX-listed tech darling beat consensus expectations across the board, reporting a 35 per cent increase in revenue to $378 million and a 41 per cent increase in net profit to $109m for the half ending December 31.
WiseTech also announced on Wednesday a deal with freight forwarding company Kuehne + Nagel to roll out its customs clearance software, a move praised by E&P Financial technology analyst Paul Mason.
"This is the largest forwarder globally and one that historically has relied on what is said to be a great internal system compared to the average forwarder," Mr Mason said.
The agreement comes after a busy year for WiseTech, in which it signed rollouts with logistics providers Nordic Transport Group, International Freightbridge and EMO Trans, on top of the acquisitions of landside logistics businesses Envase Technologies and Blume Global for $US230m ($A334m) and $US414m ($A601m), respectively.
Seven new rollouts since July have extended WiseTech's total to 47 large global rollouts.
The flurry of deals was overseen by founder and chief executive Richard White, who has grown WiseTech to be the ASX's largest tech stock since it was listed in 2016.
"Our ability to deliver strong growth in revenue, earnings and free cashflow, 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.
Revenue in WiseTech's flagship product CargoWise grew 50 per cent to $289m, boosted by an increase in usage following the acquisitions. Growth from new consumers amounted to $14m of the $96m growth in CargoWise revenue.
Meanwhile, earnings before interest, tax, depreciation and amortisation grew 36 per cent from the previous corresponding period to $187 million, slightly above consensus expectations.
WiseTech declared a 6.6c interim dividend, up 39 per cent from the year before.
Its share price was up 3.9 per cent to $57.95 shortly after 1pm.
