Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Wise shares slide after forecasts disappoint

Fintech firm Wise saw shares slide on Thursday (Alamy/PA)
Fintech firm Wise saw shares slide on Thursday (Alamy/PA)

Money transfer firm Wise saw its shares tumble after profit forecasts disappointed investors.

The UK fintech company also revealed that profits more-than-tripled for the past year, but saw positivity surrounding this eclipsed by concerns over its outlook.

Wise, which was launched in 2011 under original name TransferWise, pointed towards 15-20% growth in its underlying income for the current financial year in its fresh update.

However, the projection was below analyst forecasts and significantly short of the 31% growth seen last year.

The company also said it plans to reduce fees but increase investment on its payment infrastructure, in a move expected to weigh on profit margins.

Nevertheless, it came as the company revealed that revenues grew by almost a quarter, 24%, to £1.05 billion for the year to March 31.

This came as its active customer base grew by 29% to 12.8 million for the year. It added that pre-tax profits jumped by 229% to £481.4 million for the year.

Kristo Kaarmann, co-founder and chief executive officer, said: “2024 was another strong year of growth for Wise.

“We are investing in infrastructure and customer experiences to serve as much of this huge, under-served cross-border payments market as possible, including starting full-year 2025 by reducing fees further for our customers.”

AJ Bell investment director Russ Mould said Wise “demonstrated the truth of the old idiom that markets are inherently forward looking as despite posting a big increase in annual profit, a weak outlook caused shareholders to desert the company in droves”.

He added: “If Wise was trying to inject a dose of conservatism to its forecasts to help manage market expectations, the move seems to have backfired for now.”

Shares in the company fell by 16.3% on Thursday morning.