3rd Apr 2025 12:43
(Alliance News) - Wise PLC on Thursday predicted "healthy" growth ahead as it unveiled strong progress in the financial year just ended.
The London-based financial technology company focused on global money transfers expects underlying income to rise 16% to GBP1.36 billion in the financial year to March 31 from GBP1.17 billion a year prior. Underlying pretax profit margin is seen edging down to 20% from 21%.
Customer numbers are forecast to increase 21% to 15.5 million from 12.8 million and cross border volumes by 22% to GBP145 billion from GBP119 billion.
In response, shares in Wise were 3.5% lower at 949.50 pence each in London on Thursday. It has a market value of around GBP9.73 billion.
Wise announced the figures ahead of a capital markets day presentation on Thursday.
At the event, Wise said it will provide an update on its medium-term vision.
The company is targeting a "healthy" underlying pretax profit margin of 13% to 16% and strong underlying income compound annual growth of 15% to 20% over the medium term.
Over the next financial year, Wise expects to deliver underlying income growth of 15% to 20% while the underlying pretax profit margin is expected to be around the top of its target range.
Wise also announced its intention to expand the share purchase programme into the Employee Benefit Trust to ensure there is no shareholder dilution from historical stock-based compensation grants.
Historical grants total around 25 million shares, equivalent to 2.5% of issued capital, Wise said.
The company said it has been extensively consulting with shareholders on the "optimal listing arrangements" for the company and expects the review to conclude in the coming weeks.
To be eligible to step up to the equity shares (commercial companies) category, Wise would need to amend certain parts of its Articles of Association, in addition to needing FCA approval to transfer.
Following FCA reforms introduced to the UK listing regime in July 2024, Wise's listing was automatically transferred onto the equity shares (transition) category.
Wise will report its fourth quarter trading update and full-year results on April 15 and June 5, respectively.
By Jeremy Cutler, Alliance News reporter
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