WiseTech returns to all-time high after profit beats forecasts
Tess BennettTechnology reporter
Key Points
- Why it matters: WiseTech is the most valuable technology company on the ASX.
- Shares jumped 12 per cent after the company reported strong first half financial results.
- WiseTech lifted its dividend 17 per cent to 7.7¢.
WiseTech’s shares returned to their all-time highs and added more than $3 billion to the freight software provider’s market cap after its first-half earnings beat analysts’ expectations.
Investors welcomed news that WiseTech expects margins to improve in the second half and that it signed new contracts with three large global freight forwarders. The shares rose 12 per cent to $89.80 on Wednesday.
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