Get the champagne ready, because Corporate Travel Management (CTM) just reported its strongest EVER full-year results!
And no, Wednesday afternoon is NOT too early to be drinking champagne. It’s NEVER too early, if you ask us.
The company reported earnings of $125.4 million, which is a 27 per cent increase on the previous year.
CTM Managing Director and founder Jamie Pherous said the performance reinforced the company’s global expansion strategy, with organic growth contributing $18.9 million to its profit growth.
“We have had another strong year,” he said.
“Each region in our network has had a record result, demonstrating our business model and strategic investment decisions are working well for clients and investors.”
CTM’s global operations continued to grow, recording $4.95 billion in total transaction value, up 19 per cent, with revenues up 14 per cent, reflecting the efforts of CTM’s hard-working team to win and retain customers.
“We have continued to expand through increasing market share, including multinational clients who have recognised our international capabilities,” Pherous said.
“These results support our strategy to build a global network by applying a high-quality growth business model around winning and retaining customers, driving internal automation and client innovation and ensuring high staff engagement and client satisfaction.”
Pherous said CTM had now established a global footprint in all of its primary markets and had won a number of significant global clients with its award-winning CTM SMART Technology suite.
CTM’s now has technology hubs well established across all regions, employing 100 staff with a large flow of future developments scheduled for FY19.
“We remain committed to delivering superior results for clients through a consistent value proposition, including innovative customer-facing technology solutions underpinned by a highly personalised service offering, and delivering a return on investment to our clients,” Pherous said.
He said CTM’s employees remain central to the company ongoing success, with staff engagement levels continuing to outperform benchmarks.
CTM expects full-year underlying EBITDA for FY19 to be in the range of $144-150 million, representing approximately 15-20 per cent growth on the previous corresponding period.
The CTM Board has declared a fully franked dividend of 36 cents per share an increase of 20 per cent on the prior corresponding period. It will be paid on 4 October 2018.