The Wise logo displayed on a smartphone screen.
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Sensible on Wednesday posted a 55% profit increase in the first half of fiscal 2025, citing customer growth and growing market share.
The British digital payments company said first-half profit was £217.3 million, compared with £140.6 million in the same period a year ago.
That came thanks to a 25% increase in active customers, with Wise reporting a total of 11.4 million consumer and business customers.
Revenue on the money transfer platform rose 19% year-on-year to £591.9 million in the period, Wise reported on Wednesday.
Earlier this year, Wise issued a sell warning that sent the British online payments company’s shares down as much as 21%.
In June, Wise said it expected underlying year-on-year income growth of 15-20% for the 2025 financial year, well below the 31% growth mark it reached in the 12 months ending March 2024.
The softer expectations stemmed from a series of price cuts.
Last month, Wise reported a 17% increase in underlying revenue for the second quarter of 2024.
The company also said it is on track to deliver an underlying profit before tax (PBT) margin of 13% to 16% over the medium term – reiterating previous guidance from June – and does not need to make “further material investments in discounted prices doing”. “in the second half.
On Wednesday, Wise said the underlying PBT margin for the first half of the period was 22%, above the target range of 13% to 16%.
However, the company added that the investments it has made in lowering prices will return that margin to a level close to that target range for the second half of fiscal 2025.
Last week, Wise CEO and co-founder Kristo Käärmann was fined £350,000 by the UK’s Financial Conduct Authority for failing to report a problem with his tax returns.