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.

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