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Wise PLC on Thursday said it was confident for the second half of its financial year and beyond as it reported revenue growth, which was however beaten by the pace of rising costs. The London-based money transfer services provider said pretax profit fell 13% to £254.6 million in the six months to September 30, from £292.5 million a year ago. Revenue climbed 11% to £658.0 million from £591.9 million. The company highlighted that active customers rose 18% to 13.4 million in the first financial half, from 11.4 million a year ago. Cost of sales increased 14% to £173.7 million from £152.9 million, while administrative costs came in 27% higher, at £465.9 million from £366.7 million. Wise expects its planned dual listing in the US to occur in the second quarter of 2026. Looking ahead, Co-Founder & Chief Executive Kristo Kaarmann said: ‘We continue to expect these ongoing investments to move us towards an underlying pretax profit margin of around 16% for FY26, excluding one-off costs related to our dual-listing project. This remains at the top end of our medium-term guidance of 13-16%. ‘We are making good progress on our mission. We are a much bigger business delivering exceptional growth and profitability for our customers and shareholders and I’m confident we will continue on this path to provide value for all our stakeholders.’ He added: ‘We remain focused on building for the long term: investing in product innovation, infrastructure and partnerships that make moving and managing money even faster, cheaper, easier and more transparent for our customers worldwide.’ Wise shares fell 4.2% to 910.50 pence each on Thursday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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