WiseTech upgrades FY19 guidance

The logistics software solutions provider expects sharp increases in earnings and revenue.    Australia-based WiseTech Global, a logistics software solutions provider, upgraded its earnings and revenue forecast for fiscal year 2019.
   WiseTech Global Founder and CEO Richard White said last week the company expects revenues for the fiscal year, which began July 1 and ends June 30, 2019, to range between AUD $320 million (U.S. $227.1 million) and AUD $333 million and earnings before interest, tax, depreciation and amortization (EBITDA) to range between AUD $102 million and AUD $107 million.
   For fiscal year 2018, the company recorded revenues of AUD $221.6 million and an EBITDA of AUD $78 million.
   WiseTech’s acquisition spree still remains in high gear. Just this month, the company announced the acquisitions of SmartFreight, a parcel and less-than-truckload shipping software provider, and DataFreight, a provider of customs, freight forwarding and warehouse management solutions in the United Kingdom. WiseTech said both companies are expected to be consolidated into its global accounts in November.