Wiseway Group reports revenue growth

Transport and logistics company, Wiseway Group, has released financial results for the three months ended 31 December 2021.

Revenue grew by 19 per cent to $46.5 million in Q2 FY22 compared to $38.7 million in Q2 FY21.

This was reported to be driven by significant growth in road transportation which was up 89 per cent to $1.7 million compared to $0.9 million in the previous corresponding period; imports and distribution – up 68 per cent to $4.2 million from $2.5 million compared to the prior corresponding period; and perishables which were up 62 per cent to $11.2 million from $6.9 million compared to the prior corresponding period.

“We saw solid performance across our key business segments amid challenging market conditions,” said Wiseway Group CEO, Roger Tong.

“Revenue continued to increase in our growth business segments including road transportation, imports and distribution and perishables which demonstrates Wiseway’s increasingly diversified business model.

“Meanwhile, air freight dry cargo volume steadily grew compared to [the prior corresponding period] and to Q1 FY22, despite the ongoing supply chain disruptions and the impact of Covid-19 on international flights.

“Our strategic investment program continues to deliver new and organic growth opportunities, increased supply chain efficiencies and revenue synergies with revenue from the offshore operations in China, the newly acquired Singapore business and the US operations starting to flow.”

Established in 2005 to serve the growing Australia-Asia Pacific trade industry, Wiseway has grown to become one of the top three outbound air freight logistics providers in Australia. With multiple strategically located operation hubs in Australia, the US, and the Asia Pacific, the company provides its large base of domestic and international customers with specialist cross-border logistics services including air freight, sea freight, import, domestic transportation, warehousing, and customs clearance.