A spike in transaction values helped deliver a strong profit growth for Corporate Travel Management (CTM), according to the group’s latest financial report.
Total transaction value for the year to June 2015 almost doubled, reaching $2,656 million – up 92 percent on the prior 12 months.
As a result of the increased value per transaction, the group’s revenue and other income spiked by 79 percent to reach $197.9 million.
Removing taxes and other payments, the company cleared $29.1 million in statutory profits after tax, up 48 percent over the year ending June 2014.
According to CTM’s Managing Director, Jamie Pherous, profit growth comes despite challenges in the global economy.
He explained that it was driven by strong profits across each region in the network, particularly the North American businesses, which delivered a huge 107.9 percent increase in revenue.
Other top performing regions in the network include Asia, which saw an underlying EBITDA increase of 200 percent – the largest increase in EBITDA contribution to group performance.
“Each region in our network delivered record profits, demonstrating our business model and strategic investment decisions are working for our clients and investors.”
Jamie Pherous, CTM Managing Director
Pherous said in the year ahead CTM will focus on outperforming its organic growth as well as leveraging technology advantages into new market segments.
He expects the full year underlying EBITDA for FY16 to be in the range of $61.3-$63.8 million – an increase of 25-30 percent.
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