The WiseTech Global (ASX:WTC) share price has gained almost 140 per cent over the past 12 months, making it one of the best performing ASX 200 shares in that period.
In August, the logistics software company reported FY18 profits jumped 28 per cent higher, with CEO Richard White saying global operations continued to deliver high quality growth.
Writing in its August 2018 monthly update, the top performing Hyperion Australian Growth Companies Fund said the power and strength of WiseTech’s product offering was supported by its 99 per cent recurring revenue as the company maintained an impressive annual customer attrition rate of less than 1 per cent.
Furthermore, the fund said, WiseTech continued to improve its value proposition to customers, adding over 550 new product enhancements and features to its flagship CargoWise One technology platform, whilst acquiring 15 strategic assets in new geographies and adjacent technologies to accelerate future growth.
WiseTech management has guided FY19 revenue growth of between 42 to 47 per cent and EBITDA growth of 28 to 35 per cent.
The strong performance of WiseTech shares were one of the drivers of the 8.4 per cent return in August for the Hyperion Australian Growth Companies Fund. In the last 12 months the fund has gained almost 30 per cent, out-performing the return of its benchmark S&P/ASX 300 Accumulation Index.