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Global scope in WiseTech growth plans

AAP logoAAP 22/11/2016 Ethan James

Globally focused logistics software firm WiseTech Global says it is on target to increase revenue by up to 50 per cent in the current year as it expands its worldwide footprint.

WiseTech, which debuted on the share market in April, on Tuesday confirmed guidance given in August of expected 2016/17 revenue of $148 to $155 million - an increase of 43 to 50 per cent on its pro-forma 2015/16 performance.

Founding chief executive Richard White told the company's annual general meeting greater spending from key customers, takeovers and product innovation would underpin growth.

"Clearly we are in a strong position from which to ramp up our strategic initiatives and we are very clear on which levers to pull," he said.

WiseTech also maintained its forecast of a 59-68 per cent rise in 2016/17 earnings of $50 to $53 million.

WiseTech has some 6,000 customers across more than 125 countries, including Australia, New Zealand, China and the US.

Its CargoWise One platform is used by global logistics service providers to manage supply chains.

More than half of the company's staff work on development, with artificial intelligence technology to weigh packages- currently a labour-intensive process - among the initiatives currently in plannning.

"There's been a lot of debate in Australia this year about the wide divide between research and commercialisation," Mr White said.

"We apply the majority of our effort towards product leadership, as we see it as the true catalyst for all our growth."

WiseTech also plans takeovers in Asia, Europe and South America after recent acquisitions in China, Germany and South Africa.

WiseTech expects to announce in February a dividend payout ratio of 20 per cent of statutory net profit after tax, likely to be paid in April.

Stocks in the company, which debuted on the share market in April at $3.35, were at $5.80 at 1524 AEDT on Tuesday, a rise of 20 cents, or 3.8 per cent for the day.

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