Investing.com -- London-listed shares in Wise PLC (LON:WISEa) shed more than 14% of their value on Thursday after the British money transfer group unveiled a weaker outlook for annual underlying income growth.
The company said it now expects the figure to rise by 15% to 20% in its 2025 financial year compared to the prior 12-month period. Underlying profits rose by 31% to 1.2 billion pounds in its fiscal 2024, thanks in part to an uptick in people using the platform and higher interest rates.
In a statement, Chief Executive Officer Kristo Käärmann said Wise plans to roll out investments in infrastructure to reach an "under-served cross-border payments market," as well as a reduction in fees charged for its services.