- Margins helped by rate hikes
- Lower-than-expected costs
There will be few companies during the current results season that will benefit as clearly, and abundantly, from higher interest rates as international payments specialist Wise (WISE). The company enjoyed reported revenue growth of 25 per cent during the half as customer acquisitions brought higher volumes and account fees. This excludes the extraordinary earnings from interest income net of customer benefits, which was £158mn for the half, compared with just £18.7mn for the same period in 2022. In other words, Wise is earning the mother of all windfalls from central bank monetary policy.