Travel Agents

CTM’s local operations set for solid half-year result despite “patchy” client activity

Huntley Mitchell

Huntley Mitchell

Corporate Travel Management (CTM) expects a combination of new client wins and momentum from wins in the prior financial year to translate into another solid first-half result for its local operations.

The business travel player revealed its forecast for the Australian and New Zealand market at its annual general meeting on Wednesday, despite noting “patchy” client activity in the region.

CTM also affirmed its full-year underlying earnings guidance of between $165 million and $175 million, representing roughly 10 to 16.5 per cent growth on the prior year.

“It is of no surprise that the macro environment is challenging, and we indicated in August we expected this to be the case,” managing director Jamie Pherous (pictured above) said.

“In the face of this, our management continues to execute our strategy, which pleasingly enables me to affirm guidance.”

Historically, CTM has reported higher underlying earnings in the second half of the year compared to the first half.

The company expects a slightly higher performance in the second half of 2020 than the normal range due to improved macroeconomic factors – most significantly, in Europe and Asia – as well as coming off strong first-half and “very weak” second-half performances.

The forecast comes after CTM wrapped up a drama-riddled FY19 on a very positive note, posting double-digit increases in profit and revenue.


SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Tourism

South African Tourism officials ‘extremely disappointed’ by the latest international travel bans

South African Tourism and the Tourism Business Council of South Africa have expressed their upset in a joint statement.

Share

CommentComments

Aviation

Shocking video shows Ryanair plane’s engine on fire after flock of herons get sucked in

It’s quite a feat to take over ibises as the world’s most annoying bird, but these frightened passengers would put herons in first place.

Share

CommentComments

Cruise

Emerald Azzura celebrates successful sea trials

The staff at Travel Weekly were placing bets on whether Emerald Azzura is a precious mineral or a new brand of sparkling water. Turns out we were all wrong.

Share

CommentComments

Aviation

Jetstar pilot accused of murder to remain in custody until May after facing court

Greg Lynn will remain in custody at Melbourne Assessment Prison until May 2022 after being charged with the murder of two campers.

Share

CommentComments

Technology

Tourism

Riparide land $4 million capital raise

Don’t be fooled by the name: Riparide are an accommodation booking platform, not a car-stealing-for-hire service

Share

CommentComments

Tourism

Pajinka’s traditional owners are changing access to the site after disrespectful behaviour from tourists.

Acts of vandalism, graffiti and nudity have left the traditional owners close to closing the site.

Share

CommentComments

Midweek Interview

Life in the time of COVID-19 with Aurora Expeditions’ Steve McLaughlin

This week, Aurora Expeditions’ APAC sales director reveals the secret ingredient of his famous chilli con carne and the best British crime shows to watch while eating it.

Share

CommentComments

Destinations

Visit Victoria teams up with The Project to showcase Melbourne’s awesomeness

Here at Travel Weekly, we love visiting Melbourne. It’s perhaps the only place in Australia where you can hang out in a laneway without getting mugged or witnessing a drug deal.

Share

CommentComments

Tourism

Aussie is appointed as CEO of The Travel Concierge Sri Lanka

The new appointment could see quite a few more Aussies paying a visit to Sri Lanka once the pandemic is well and truly over.

Share

CommentComments

Aviation

Bonza announce key new hires in preparation for lift-off

The new hires seem fit and ready to go. Unfortunately they declined my job application which was a video of me playing flight simulator.

Share

CommentComments

Aviation

FAA hands out fines worth over $US160,000 for alcohol-related unruliness

Rowdy passengers are footing the bill as they take “screaming drunk” to new heights.

Share

CommentComments

Travel Agents

AFTA reach out for further government support in the face of Omicron

AFTA hopes a “grassroots activation” will get them on the “same field” as Government.

Share

CommentComments