CTM posts sharp rise in TTV

CTM posts sharp rise in TTV
By admin


Corporate Travel Management (CTM) has reported a 36.5% rise in Total Transaction Value in the first half of the financial year with client activity "steady" despite global economic uncertainty.

TTV hit just over $431 million with the contributions from ETM and its US acquisitions inflating the growth.

On a like for like organic growth basis, TTV climbed 14.3%.

The company said it expects a stronger second half in Australia and New Zealand when new clients begin transacting. The US performance is also likely to improve.

"The USA is performing above expectations and we expect a stronger 2H due to the volume of new clients won, combined with client retention," CTM said in a statement on the ASX.

CTM added it is continuing to explore further acquisitions and was "encouraged" by opportunities.

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]