Currency headwinds slowed growth at payments group Wise PLC (LSE:WISE) in its latest quarter.
Underlying income grew by 13% year-on-year to £349.5 million in the three months to December, its third quarter, taking growth for the year to date to 17%.
Wise said that without the impact of adverse currency movements underlying income rose by 20%.
On a constant currency basis, Wise added it expects underlying income growth of 15-20% in tear to March 2025, with the reported growth expected to be at the lower end of this range as a result of the FX headwind.
Operationally, Wise said cross-border volumes in the third quarter rose by 24% (27% on a constant currency basis) to £37.8 billion with account balances up 26% to £16.2 billion
Wider use of the Wise account resulted in a 39% YoY increase in card and other revenue.
"This quarter saw us take another step closer to achieving our mission, most notably through extending the availability of Wise to even more customers,” said Kristo Käärmann, chief executive (pictured).
Shares dropped 2.7% to 1,026p.