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TD breaking news – CTM earnings up 60% to $42.1 million after tax

“Another great result” for Corporate Travel Management. 

Listed TMC Corporate Travel Management has released its financial results for the year to 30 June, with ceo Jamie Pherous saying each region in the company’s network “delivered record profits, demonstrating that our business model and strategic investment decisions are working well for our clients and investors”.

TTV rose 35% to $3.6 billion, while the statutory net profit after tax was $42.1 million, an increase of 60% on the prior year. The company declared a fully franked dividend of 24c per share, up 50%, with CTM forecasting underlying EBITDA of $85m-$90m for the coming year.

Pherous said CTM had continued to expand through increasing market share. “Organic growth contributed to approximately 80% of our profit growth, reflecting the efforts of our hard working team to win and retain clients,” he said.

More details in today’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 26 Aug 16

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