Profit growth spurs CTM guidance upgrade


  CTM expecting further contribution from US operations.

Corporate Travel Management (CTM) has reported a 26.3 percent increase in first half EBITDA compared to same period FY2011/12, citing organic growth and productivity efficiencies.

During the first six months of the current financial year, the group’s EBITDA increasedto AU$9.225 million, while its total transaction value (TTV) jumped 36.5 percent to AU$431 million.

CTM managing director Jamie Pherous said numbers were pleasing despite an ongoing tough economy, and was contributable to organic growth through new and existing clients as well as productivity efficiencies, which has resulted in “better revenue per full-time employee.

Looking ahead, the group has increased its guidance for FY13 EBITDA to 20-25 percent to up to AU$21-22 million.

Although results for the six months excluded contribution from the group’s recent USA acquisition, Mr Pherous expects greater contribution from the US in the second half.

Source = e-Travel Blackboard: N.J.
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