CTM posts 43% profit rise

CTM posts 43% profit rise
By admin

Travel management firm Corporate Travel Management (CTM) has posted a net profit after tax of $11.8 million, a 43% rise on the previous year.

Total Transaction Value (TTV) in the 12 months to June 30 climbed 36% to $683 million.

CTM managing director Jamie Pherous said the company outperformed the market compared to recent airline data.

“Record new client wins combined with a high client retention rate and our acquisition strategy has contributed to CTM’s continued success,” he said.

The firm has targeted earnings growth of between 15% and 20% in FY13 assuming the economy does not deteriorate.

Current trading is at the top end of the growth range “despite tough and uncertain economic conditions”, Pherous said.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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