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Wise PLC on Tuesday reported a strong rise in underlying income in the financial year just completed, while achieving a 20% underlying profit margin, as the UK company expanded into Mexico and into the business market in Hong Kong. London-based Wise operates a money transfer platform. It said underlying income was £350.4 million in the fourth quarter of its financial year, which ended on March 31. This was up 13% from a year before and 15% at constant currency. For all of financial 2025, underlying income was £1.36 billion, up 16% from £1.17 billion in financial 2024 and in line with guidance provided at the start of this month. Less positively, Wise said its cross-border take rate slipped to 0.53% in the fourth quarter from 0.56% in the third. It also was down from 0.67% a year before. The company said this was due to an increase in the proportion of business from higher-volume customers. Underlying pretax profit margin in the recent financial year is estimated at 20%, as previously guided and down a notch from 21% in financial 2024. Looking ahead, Wise said it expects underlying margin to be at the top of its 13% to 16% target range. Wise said it had 9.3 million active customers in the fourth quarter, up 2.7% from 9.0 million in the third quarter and up 17% from 7.9 million a year before. Wise shares were down 0.6% to 949.00 pence on Tuesday morning in London. They are down 11% so far in 2025, but up 3.9% over the past 12 months. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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