WTC +11.15%: A great result from the logistics software company today starting at a 2% beat at the revenue line, however spades of operational leverage underpinned Net Profit After Tax (NPAT) that was ~20% ahead of consensus. While there were a few things that added to that number making it slightly lower quality, and they maintained FY24 guidance, the momentum here is hard to argue with.
- A big beat, lower quality in parts but a big beat none-the-less
MM is neutral WTC ~$89, and will not chase at current levels.
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