Coles Group Ltd (ASX: COL) shares will be watched closely next week when the supermarket giant releases its half year results.

Ahead of the release, let’s look at what the market is expecting from the company on 21 February.

What is the market expecting from the Coles half year result?

According to a note out of Goldman Sachs, its analysts expect first half group sales of $21,354 million, up 3.7% over the prior corresponding period. This comprises supermarket sales of $18,729 million, liquor sales of $2,014 million, and convenience sales of $611 million.

However, unlike rival Woolworths Group Ltd (ASX: WOW), which is expected to deliver strong earnings growth, Goldman Sachs expects Coles to report a decline in profits. It is forecasting underlying net profit after tax of $542 million. This will be a 1.3% decline over the prior corresponding period and driven by margin contraction. The broker explained:

From a margin perspective, we also expect COL to see ~10bps EBIT margin contraction in 1H23 on the back of lower GPM and higher implementation cost for supply chain transformation including Witron and Ocado. This is in contrast to ~30bps EBIT margin expansion we expect for WOW. Net net, we are looking for flat EBIT growth YoY for COL vs. +11% for WOW in 1H23. We are ~3.6% below Visible Alpha consensus EBIT for 1H23.

And while Goldman hasn’t provided an interim dividend estimate, for the full year it is forecasting a 60.9 cents per share fully franked dividend. This will be down 1.1% year over year and could mean the interim dividend will be down by a similar percentage.

Finally, the broker has warned that if its forecasts are accurate, it could cause Coles shares to tumble. It concludes:

COL is currently trading at 23.3x FY24 P/E on vs. historical average of 21.6x, and is only at ~1x P/E discount vs. historical average of ~4x relative to WOW. We expect that a disappointment in 1H23 margins will result in stock underperformance.

The post Own Coles shares? Here’s what the market is expecting from its half year results appeared first on The Motley Fool Australia.

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More reading

• These are the growing ASX dividend shares to buy now: analysts
• Can Coles shares deliver 8% upside AND tasty dividends in 2023?
• Get an income boost with these ASX dividend shares: broker
• With interest rates heading higher again, the risk is to the downside for these popular blue chip ASX shares
• 2 ASX stocks I’d buy in February for lifelong passive income

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX buy now, pay later (BNPL) shares are under selling pressure on Friday.

While the All Ordinaries Index (ASX: XAO) is also down 0.61% as we head into the lunch hour, the BNPL companies are faring significantly worse.

The pay-by-instalment industry looks to be under pressure after the Australian Securities and Investments Commission (ASIC) came out in support of stringent new regulatory proposals.

At the time of writing, here’s how these ASX BNPL shares are faring:

• Shares in Block Inc (ASX: SQ2), which acquired Afterpay in January last year, are down 7.62%
• Zip Co Ltd (ASX: ZIP) shares are down 3.33%
• Sezzle Inc (ASX: SZL) shares are down 3.8%

Here’s what’s happening.

What new rules is ASIC proposing?

ASX BNPL shares have been in limbo for some time now as to what types of lending standards they’ll be held to.

Treasury is considering three options in a bid to protect consumers from taking on too much debt.

Yesterday, ASIC came out in favour of the most stringent of those three alternative proposals.

Should the government adopt ASIC’s decision, ASX BNPL shares will be facing largely the same regulatory hurdles as credit card companies. That means they may need to dig into their customers’ financial health before opening a line of interest-free credit.

That could prove an onerous burden in the current environment of high inflation and rising interest rates.

According to the ASIC report (courtesy of The Australian Financial Review):

Products with similar characteristics and the same purpose and function should be treated the same way in the regulatory framework.

Uniform regulation under the National Credit Act would bring a more consistent regulatory framework across all buy now, pay later providers and a standardised regime that could be enforced by ASIC.

Commenting on the development putting ASX BNPL shares under pressure today, analysts at Moody’s Investors Service said (quoted by the AFR):

Regulation remains a continuing hurdle for fintechs In Australia, the once fast-growing BNPL sector is facing scrutiny as the government is considering a number of options to enhance the regulation of consumer credit.

More regulatory burdens will result for all BNPL providers, including Afterpay and Zip.

But no final decision has been made. Financial Services Minister Stephen Jones said the government was still working through the specifics of the pending regulations.

How have these ASX BNPL shares performed over a year?

With today’s falls factored in, the ASX BNPL shares listed above have sunk even deeper into the red.

Here’s how they’ve performed over the past 12 months:

The Block share price is down 24%:

The Zip share price is down 78%:

And the Sezzle share price is down 70%:

Whether buying these stocks at these prices represents grabbing a bargain or catching a falling knife remains to be seen.

With that said, should the government opt for a lighter regulatory approach, they could well enjoy a healthy bounce.

Stay tuned.

The post ASX BNPL shares deep in the red as ASIC turns up the regulatory heat appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Why did the ASX 200 leap higher on rising unemployment data?
• Why are ASX 200 tech stocks like Xero having such a cracking run today?
• Why is the Zip share price rocketing 7% today?
• Here are the 10 most shorted ASX shares

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Zip Co. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Earlier today, the Telstra Group Ltd (ASX: TLS) share price hit a new 52-week high of $4.24.

Investors have been buying the telco giant’s shares this week following the release of its half year results.

Telstra reported a result a touch ahead of expectations with its 6.4% increase in total income to $11.6 billion and 11.4% jump in EBITDA to $3.9 billion. This allowed the Telstra board to increase its fully franked interim dividend by 6.3% to 8.5 cents per share.

Can the Telstra share price keep rising?

The good news is one leading broker believes the Telstra share price can keep rising from here.

A note out of Morgans reveals that its analysts have retained their add rating with an improved price target of $4.70.

Based on the current Telstra share price of $4.22, this implies potential upside of over 11% for investors over the next 12 months.

In addition, Morgans is now expecting a 17 cents per share fully franked dividend in FY 2023. This equates to a 4% yield and boosts the total potential return beyond 15%.

What did the broker say?

Morgans was pleased with Telstra’s result and believes it is well-placed to deliver achieve its earnings guidance in FY 2023. It said:

Doubling 1H23 underlying EBITDA gets most of the way to the bottom end of the guidance range. Given the business has positive earnings momentum, guidance looks comfortably achievable, in our view.

And with the mobile market in good shape and potential asset divestments on the horizon, Morgans is positive on the future. It adds:

Telco has the strongest tailwinds in a decade with an increasingly rational market, price rises across the majors and the criticality of telco increasingly recognised. The last major mobile operator Vodafone/TPG increased mobile prices by ~$5 per month in January 2023 and all key players are behaving economically rational.

This combines with catalysts including the potential for InfraCo value release following the legal restructure. Add retained, TP increased to $4.70.

The post Broker gives its verdict on the Telstra share price post-results appeared first on The Motley Fool Australia.

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More reading

• Why Bapcor, Magellan, Sonic Healthcare, and Telstra shares are charging higher
• Everything you need to know about the boosted Telstra dividend
• Telstra share price higher on half-year revenue and earnings beat
• Telstra share price on watch amid strong half-year profit growth
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The QBE Insurance Group Ltd (ASX: QBE) share price is off to the races today. 

Shares in the S&P/ASX 200 Index (ASX: XJO) insurance company closed yesterday trading for $13.40. Shares are currently changing hands for $14.69, up 9.6%.

This comes following the release of QBE’s full-year 2022 results (FY22).

Here’s what’s piquing ASX 200 investor interest on Friday morning.

QBE share price soars amid dividend growth

• Statutory net profit after tax (NPAT) of $770 million, up from $750 million in FY21
• Adjusted cash profit after tax increased 5.2% year on year to $847 million
• Adjusted cash return on equity of 10.5%, up from 10.3% the prior year
• Adjusted gross written premium of $20.1 billion, up 13% from FY21
• Declared a final, fully franked dividend of 30 cents per share, up 57% from the 19 cents per share paid out in FY21

What else happened during the year?

ASX 200 investors may also be bidding up the QBE share price today on the insurer’s continuing premium growth.

The company reported 13% gross written premium growth, driven by a 7.9% increase in its group-wide renewal rate.

In other action during the year, QBE entered into a broad-based reinsurance transaction with Enstar Group Limited (NASDAQ: ESGR). The company said this de-risks its exposure to reserves totalling around $1.9 billion. That transaction remains subject to regulatory approvals.

And the QBE share price doesn’t seem to be negatively impacted today by the rather poor performance of the company’s investment portfolio.

QBE reported a total investment loss in 2022 of $776 million, or a loss of 2.7%. In 2021 the investment portfolio returned a gain of 0.4% for a return of $122 million. QBE said unrealised losses associated with significant increases in bond yields over the year were responsible for much of those negative returns.

What did management say?

Commenting on the results sending the QBE share price rocketing today, CEO Andrew Horton said:

Our new purpose, vision and strategic priorities launched at the start of 2022 have been embraced by our people, helping to bring us together and become a more consistent organisation.

As we look forward, we have the right foundations in place, the right team and importantly, strong enterprise-wide engagement around a clear and consistent strategy…

2022 has been about laying the foundations and embedding our new vision, purpose and strategic priorities.

What’s next?

Looking ahead at what might impact the QBE share price down the road, the insurer expects 2023 constant currency gross written premium growth to be in the mid-to-high single digits.

QBE also flagged a significant expected improvement in its investment returns.

QBE share price snapshot

As you can see in the chart below, with today’s big intraday spike factored in, the QBE share price is up 16% over the past 12 months.

The post QBE share price leaps 10% amid explosive dividend growth appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Power up your passive income with these high yield ASX dividend shares: expert
• 10 ASX stocks to buy before they report this earnings season: Goldman
• Why QBE, Pinnacle, Rio Tinto, and Virgin Money shares are dropping
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Baby Bunting Group Ltd (ASX: BBN) share price is tumbling on the release of the company’s earnings for the first half of financial year 2023.

Shares in the baby goods retailer plummeted 9.8% on open before recovering. Right now, the stock is trading 2.44% lower at $2.40 a share.

Baby Bunting share price slumps as dividend slashed

Here are the key takeaways from the S&P/ASX 300 Index (ASX: XKO) company’s first half:

• $254.9 million of sales – a 6.6% improvement on the prior comparable period (pcp)
• $2.7 million of statutory net profit after tax (NPAT) – down 67%
• Pro forma NPAT was $5.1 million – a 59% fall
• Comparable store sales growth of 0.4% – down from 6.8%
• Gross margin came in at 37.2% – down from 39.3%
• Declared 2.7 cents per share fully franked interim dividend – a 59% tumble

The company’s gross profit margin was dinted by supply chain and shipping costs, better-than-expected engagement with its loyalty program, and the play gear category’s contraction – driven by price deflation and reduced demand.  

What else happened last half?

Consumer behaviour at the business shifted last half as shopping patterns normalised post-pandemic.

Instore sales grew 12.2% to make up 80% of all sales while touchless click-and-collect sales fell 30.2%. Meanwhile, online delivery sales grew 6.5%, with online sales making up 19.7% of all sales.

Five new Baby Bunting stores opened during the period while progress was made on the company’s ongoing transformation program.

What did management say?

Baby Bunting CEO and managing director Matt Spencer commented on the news driving the company’s share price today, saying:

Over the last 3 years, our sales have grown 36.7% noting that all Baby Bunting stores remained open during the COVID period. As life has normalised, the market share gains made through COVID have predominantly been held onto.

Post-COVID, our product segment performance is normalising. Nursery essentials – being a core category – continue to grow strongly and were up 12.7% in the half (over three years, this category is up 39.4%). Consumer staples, which are more widely available across general retail, saw a decline of 4.7%. Play time items (including Play gear) declined 3.6% in the half.

What’s next?

Baby Bunting provided a trading update for the first seven weeks of 2023 today.

It recorded 3.3% of total sales growth in the period. Though, its comparable store sales came in 2.1% lower.

Looking forward, the company previously announced it expects its full-year pro forma NPAT to come in between $21.5 million and $24 million and its gross profit margin to be between 38% and 39%.

Meanwhile, Baby Bunting Marketplace – presenting a “significant revenue opportunity” – is set to launch in the final quarter of this financial year.

Finally, the company announced Spencer’s resignation this morning. He will continue in the role until his successor is appointed.

Baby Bunting share price snapshot

The Baby Bunting share price has had a rough trot as of late.

The stock has tumbled 12% since the start of 2023 and is now trading 53% lower than it was this time last year.

For comparison, the ASX 300 has gained 6% year to date and 0.6% over the last 12 months.

The post Baby Bunting share price plunges as profits tumble 67% appeared first on The Motley Fool Australia.

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• Earnings preview: Here are the ASX shares reporting on Friday
• Supercharge your passive income with these buy-rated ASX dividend shares: analysts
• 1 oversold ASX dividend stock (yielding 6%) to buy in 2023
• Why I think these 2 ASX dividend shares offer great buying right now

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Baby Bunting Group. The Motley Fool Australia has recommended Baby Bunting Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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A2 Milk Company Ltd (ASX: A2M) shares are ending the week strongly.

In morning trade, the infant formula company’s shares are up over 6% to $7.12.

Why are A2 Milk shares rising?

Investors have been bidding A2 Milk shares higher today after the company released an update on its quest for regulatory approval in China.

According to the release, its dairy processor partner, Synlait Milk Ltd (ASX: SM1), has announced that China’s Ministry for Primary Industries will commence an audit of Dunsandel facility on behalf of China’s State Administration for Market Regulation (SAMR) next week.

If everything goes to plan, A2 Milk’s China label infant milk formula products will soon be given the thumbs up in relation to the new national standards registration process. This would ensure that the company’s supply of China label products continues.

Should you invest before its results?

Investing before the release of a result can be a risky endeavour. As we have seen plenty of times this month, a poor result can send a share sinking lower. Conversely, a strong result can lead to a share hurtling higher.

And with A2 Milk shares trading within a fraction of their 52-week high and ahead of most broker valuations, it would seem that the risk is to the downside ahead of Monday’s results.

Though, it is worth noting that UBS has a price target well-ahead of the consensus at NZ$9.75 (A$8.87). This suggests that its shares could still rise 25% from current levels.

UBS believes that the company could more than double its FY 2022 net profit after tax by FY 2025 thanks to strong infant formula sales. It also highlights that China’s border reopening has led to share gains in the key market for A2 Milk and believes that there is currently no significant recovery priced into its shares.

Time will tell if the broker has made the right call.

The post Should I pour in and buy A2 Milk shares before the ASX 200 company reports on Monday? appeared first on The Motley Fool Australia.

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• The A2 Milk share price has lagged the ASX 200 in 2023. Time to pour in?
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Software maker Getswift has copped “the largest ever penalty” against a company for breaching continuous disclosure laws.

The Federal Court has handed down an unprecedented fine of $15 million on delivery management app provider Getswift, which used to be listed on the ASX under ticker code GSW.

Getswift’s former executive chair Bane Hunter copped a penalty of $2 million and barred from managing corporations for 15 years. 

Former director, chief executive and retired AFL player Joel Macdonald copped a $1 million fine and was banned from managing companies for 12 years.

Another former director, Brett Eagle, was fined $75,000 and disqualified from managing corporations for two years.

According to the court, Getswift became an ASX darling as a result of “an unlawful public-relations-driven approach to corporate disclosure” deliberately executed by those running the company.

‘Laser-like focus on making money for himself and Mr Macdonald’

After listing for 20 cents on the ASX in December 2016, one year later Getswift shares were trading around the $3.70 mark.

While investors were popping champagne corks then, the series of customer signings announced to the market that inflated the stock price were later found to be gross exaggerations at best.

By March 2019, Getswift shares had deflated to 18 cents after its tactics unravelled.

The business was delisted from the ASX in January 2021 to flee to the Canadian NEO exchange, but the entire operation finally went into liquidation last July.

Federal Court justice Michael Lee was stinging in his criticism of those in charge of the company.

He said Hunter “had a laser-like focus on making money for himself and Mr Macdonald”, and if that happened to coincide with breaking stock market laws or exposing Getswift to liabilities, it was “of little concern to him”.

Macdonald was also solely concerned with making money for himself and had “little understanding or regard for his legal obligations as a director”.

After a settlement last month, former investors will be fortunate to receive 1 cent for each dollar they put in.

Justice Lee noted in his decision that there is “no evidence of contrition or remorse” by Hunter or Macdonald, who have fled overseas.

The three directors and the company were also ordered to pay the legal costs of the Australian Securities and Investments Commission, which brought the case to the court.

The post ASX company bosses punished for getting rich from misleading investors appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Pilbara Minerals Ltd (ASX: PLS) shares will be on watch next week.

That’s because the lithium giant is scheduled to release its half year results on 22 February.

Ahead of the release, let’s take a look at what the market is expecting.

What is the market expecting from Pilbara Minerals’ half year results?

It is fair to say that a blockbuster result is expected from the miner next week thanks to sky high lithium prices. In addition, Pilbara Minerals recently announced plans to pay its maiden dividend in FY 2023, so all eyes will be on that.

According to a note out of Goldman Sachs, its analysts are expecting the company to post half year revenue of $2,121 million. This will be up a whopping 627% over the prior corresponding period but 1% short of the consensus estimate of $2,152 million.

Goldman is expecting the company’s operating expenses to increase 151% to $351 million, compared to consensus estimate of $361 million.

This is expected to underpin a 1,067% increase in underlying EBITDA to $1,770 million according to the broker, which is just a touch shy of the consensus estimate of $1,792 million.

And on the bottom line, an underlying net profit after tax of $1,211 million is expected by Goldman, which is broadly in line with the consensus estimate of $1,219 million. Both will be up over 1,300% year over year.

Finally, Goldman believes this will underpin a maiden 10 cents per share dividend. The broker summarised:

PLS will release 1H23 results in late February. We forecast underlying earnings of A$1.2bn (up >14x on PcP); underlying EBITDA of A$1.8bn, net cash of A$2.1bn (as reported), and DPS of A$10cps (slightly below the bottom end of the target payout ratio at 20-30%). PLS expect to update FY23 guidance with the result.

The post Own Pilbara Minerals shares? Here’s what the market is expecting from its half year results appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Westpac Banking Corp (ASX: WBC) share price is edging lower on Friday.

At the time of writing, the banking giant’s shares are down 0.5% to $22.64.

Why is the Westpac share price in the red?

The Westpac share price is edging lower on Friday following the release of the bank’s first quarter update.

Although the update didn’t provide any profit or margin figures, it did give investors an idea of how Westpac is performing.

The bank revealed that its credit quality and capital position remain strong, with Australian 90+ day mortgage delinquencies falling five basis points to 0.7% and a CET1 ratio of 11.13%.

Westpac also revealed that its liquidity coverage ratio (LCR) was up 7 percentage points to 139%, its net stable funding ratio (NSFR) was up 1 percentage point to 122%, and its deposit to loan ratio came in 1.1 percentage points higher at 84%.

Broker reaction

Goldman Sachs has responded to the update and notes that there are both positives and negatives. It explained:

WBC has released its Dec-22 (1Q23) Pillar 3 update, which suggests WBC’s asset quality was run-rating slightly better than what was implied by our prior 1H23E forecasts, while the CET1 ratio was broadly consistent. As we had expected, no earnings update was provided. However, the slightly lower than expected RWAs could imply that either i) earnings were slightly below, and/or ii) capital deductions were slightly higher than what was implied by our 1H23 forecasts.

Should you invest?

While not blown away by the update, Goldman remains positive on the Westpac share price and has reiterated its conviction buy rating with a price target of $27.74.

This implies potential upside of 22% for investors over the next 12 months.

The post Westpac share price lower on mixed quarterly update appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The WiseTech Global Ltd (ASX: WTC) share price is on the move on Friday morning.

At the time of writing, the logistics solutions company’s shares are down 3.5% to $56.51.

Why is the WiseTech share price falling?

Investors have been selling down the WiseTech share price this morning after weakness in the tech sector offset news of a blockbuster acquisition.

According to the release, WiseTech has acquired Blume Global for US$414 million (A$600 million) from funds managed by Apollo, EQT, and other minority shareholders.

Blume Global is a provider of a leading solution facilitating intermodal rail in North America.

The release notes that North America is the world’s largest domestic logistics region and Blume manages intermodal containers and chassis on behalf of 6 of the 7 Class 1 US railroads, ocean carriers, and other intermodal equipment providers. This includes global freight forwarders and Beneficial Cargo Owners (BCOs).

Much like WiseTech itself, Blume is a high-growth recurring revenue business and is expected to generate FY 2024 revenues in the range of US$65 million to US$70 million, which represents annual growth of 45% to 55%.

Before operational synergies, on a standalone basis, Blume expects to achieve FY 2024 EBITDA margins of approximately 10% and be cash flow breakeven by the end of FY 2024.

Deal funding

WiseTech revealed that it will fund the acquisition through a combination of cash, debt, and shares.

This will comprise US$134.8 million from existing cash reserves, US$155 million of debt from new facilities, and US$124.2 million new WiseTech shares. This represents a funding mix of 70% cash and 30% WiseTech Global shares, with the latter to be escrowed for 12 months.

‘Strategically significant’

Founder and CEO of WiseTech Global, Richard White, believes the acquisition is strategically significant. He said:

This is another strategically significant acquisition that follows our acquisition of Envase Technologies last month. It further extends our capability in one of our six key CargoWise development priority areas, integrating rail into our landside logistics offering in North America, the most complex and largest logistics region in the world. Blume also brings significant new talent, a portfolio of other valuable product capabilities, and further enhances our product development skill set. This transaction demonstrates WiseTech’s continued investment in its CargoWise ecosystem, improving visibility and process efficiencies end-to-end across the supply chain for our customers.

The post WiseTech share price lower despite blockbuster $600m acquisition appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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