Strong first quarter for CTM

Strong first quarter for CTM
By admin


ASX-listed business travel firm, Corporate Travel Management (CTM), has reported a 45% lift in Total Transaction Value in the first quarter, largely a result of its expanded operations.

But even without the acquisition of ETM and its US divisions, the company reported organic growth of more than 15% compared to the previous corresponding period.

TTV hit $224.5 million in the three months to the end of September, up from $154.4m. The US contributed $29.5m, with the business “performing well”.

CTM estimated FY13 underlying earnings should rise 15% to 20% to between $20m and $21m.

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

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