Wise PLC Half-year Report (9136T)
30 November 2021 - 12:24AM
UK Regulatory
TIDMWISE
RNS Number : 9136T
Wise PLC
29 November 2021
Wise plc
29 November 2021
Release of unaudited historic financial information
Wise is today releasing selected historic consolidated financial
statements on an unaudited half yearly basis for the year ended 31
March 2021.
Enquiries
Martin Adams - Head of Owner Relations
martin.adams@wise.com
Condensed consolidated statement of comprehensive income
(unaudited)
Year ended Half-year ended Half-year
ended
31 March 30 September 31 March
2021 2020 2021
Revenue 421.0 192.2 228.8
Cost of sales (151.7) (71.8) (79.9)
Net credit losses on financial assets (8.8) (1.2) (7.6)
Gross profit 260.5 119.2 141.3
Administrative expenses (217.5) (97.6) (119.9)
Interest income from investments and
operating assets 1.9 1.0 0.9
Interest expense from operating assets (3.8) (1.6) (2.2)
Other income 3.8 1.1 2.7
Operating profit 44.9 22.1 22.8
Finance expense (3.8) (2.1) (1.7)
Profit before tax 41.1 20.0 21.1
Income tax expense (10.2) (5.4) (4.8)
Profit for the period 30.9 14.6 16.3
Other comprehensive income
Items that may be reclassified to
profit or loss:
Fair value (loss)/gain on investments (3.0) 0.2 (3.2)
Currency translation differences (3.8) 0.3 (4.1)
Total other comprehensive (loss)/income (6.8) 0.5 (7.3)
Total comprehensive income for the
period 24.1 15.1 9.0
Condensed consolidated statement of financial position
(unaudited)
As at 31 As at 30 As at 31
March September March
2020 2020 2021
Non-current assets
Deferred tax assets 32.0 38.7 56.7
Property, plant and equipment 19.1 16.7 24.0
Intangible assets 21.3 24.4 27.5
Trade and other receivables 7.6 8.3 15.1
Total non-current assets 80.0 88.1 123.3
Current assets
Current tax assets 2.1 1.7 1.1
Trade and other receivables 102.6 89.2 81.3
Short-term financial investments 114.1 289.3 737.5
Cash and cash equivalents 2,077.6 2,872.1 3,358.6
Total current assets 2,296.4 3,252.3 4,178.5
Total assets 2,376.4 3,340.4 4,301.8
Non-current liabilities
Deferred tax liabilities - - 2.0
Non-current borrowings 59.6 9.0 95.2
Non-current trade and other payables 7.4 9.5 22.6
Total non-current liabilities 67.0 18.5 119.8
Current liabilities
Borrowings 4.2 28.3 3.5
Current tax liabilities 0.7 0.8 2.0
Trade and other payables 2,107.7 3,051.2 3,891.2
Total current liabilities 2,112.6 3,080.3 3,896.7
Total liabilities 2,179.6 3,098.8 4,016.5
Equity
Share capital 9.4 9.4 9.4
Equity merger reserve 111.1 112.0 (8.0)
Share-based payment reserves 63.8 90.0 124.5
Own shares reserve - - -
Other reserves 2.3 2.5 (0.7)
Retained earnings 8.9 26.1 162.6
Currency translation differences 1.3 1.6 (2.5)
Total equity 196.8 241.6 285.3
Total liabilities and equity 2,376.4 3,340.4 4,301.8
Condensed consolidated statement of cash flows (unaudited)
Year ended Half-year ended Half-year
ended
31 March 30 September 31 March
2021 2020 2021
Cash flows from operating activities
Cash generated from operations 2,076.3 1,012.0 1,064.3
Interest received 7.6 2.7 4.9
Interest expense paid (6.0) (2.7) (3.3)
Corporate income tax paid (4.0) (0.8) (3.2)
Net cash generated from operating
activities 2,073.9 1,011.2 1,062.7
Cash flows from investing activities
Payments for property, plant and
equipment (2.3) (1.1) (1.2)
Payment for intangible assets (20.9) (10.1) (10.8)
Payments for financial assets at
FVOCI (723.9) (222.7) (501.2)
Proceeds from sale and maturity of
financial assets at FVOCI 75.3 41.1 34.2
Net cash used in investing activities (671.8) (192.8) (479.0)
Cash flows from financing activities
Proceeds from issues of shares and
other equity 0.9 0.9 -
Proceeds from borrowings 118.6 25.0 93.6
Repayments of borrowings (90.0) (50.0) (40.0)
Payments for lease liabilities (4.7) (2.4) (2.3)
Net cash generated from financing
activities 24.8 (26.5) 51.3
Net increase in cash and cash equivalents 1,426.9 791.9 635.0
Cash and cash equivalents at beginning
of the period 2,077.6 2,077.6 2,872.1
Effects of exchange rate changes
on cash and cash equivalents (145.9) 2.6 (148.5)
Cash and cash equivalents at end
of the period 3,358.6 2,872.1 3,358.6
Condensed consolidated statement of changes in equity
(unaudited)
Share capital Equity Share-based Own shares Other reserves Retained Currency Total
merger payment reserve earnings translation equity
reserve reserves differences
================ ============= ======== =========== ========== ============== ========= ============ =======
At 1 April 2020 9.4 111.1 63.8 - 2.3 8.9 1.3 196.8
Profit for the
period - - - - - 14.6 - 14.6
Fair value gain
on investments - - - - 0.2 - - 0.2
Foreign currency
translation
differences - - - - - - 0.3 0.3
Total
comprehensive
income for
the period - - - - 0.2 14.6 0.3 15.1
================ ============= ======== =========== ========== ============== ========= ============ =======
Share-based
employee
compensation
expense - - 18.0 - - - - 18.0
Deferred tax on
share-based
compensation - - 10.8 - - - - 10.8
Share options
exercises - 0.9 (2.6) - - 2.6 - 0.9
At 30 September
2020 9.4 112.0 90.0 - 2.5 26.1 1.6 241.6
================ ============= ======== =========== ========== ============== ========= ============ =======
Profit for the
period - - - - - 16.3 - 16.3
Fair value loss
on investments - - - - (3.2) - - (3.2)
Foreign currency
translation
differences - - - - - - (4.1) (4.1)
Total
comprehensive
income for
the period - - - - (3.2) 16.3 (4.1) 9.0
================ ============= ======== =========== ========== ============== ========= ============ =======
Reduction of
share capital - (120.0) - - - 120.0 - -
Share-based
employee
compensation
expense - - 18.9 - - - - 18.9
Deferred tax on
share-based
compensation - - 15.8 - - - - 15.8
Share options
exercises - - (0.2) - - 0.2 - -
At 31 March 2021 9.4 (8.0) 124.5 - (0.7) 162.6 (2.5) 285.3
================ ============= ======== =========== ========== ============== ========= ============ =======
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