Corporate Travel Management Ltd (ASX:CTD) on Tuesday reported a first half underlying profit of $36.4 million, a 33% increase over the same period a year earlier.
Corporate Travel Management Ltd posted revenue of $172.8m million in the period. This was 15% higher than the same period last year. The company announced a fully franked interim dividend of 15 cents per share, an increase of 25%.
Corporate Travel Management Ltd (CTM) is a provider of travel management solutions to the corporate market with presence currently throughout Australia & New Zealand, the USA and Asia. CTM is a member of the GlobalStar network of 70 travel management companies which allows the provision of international service for clients.
CTM’s Managing Director, Jamie Pherous said “We have delivered another great set of results across the globe. These results support the strategy that we have taken to build a global network and apply the CTM business model around winning and retaining customers, driving internal automation and client innovation and ensuring high staff engagement and client satisfaction.”
Outlook
CTM is forecasting continued revenue and profit growth in H2 FY18. They 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. CTM says it is on track to achieve top end FY18 guidance of 27.5% growth on the previous corresponding period.
Corporate Travel Management Ltd share price has gained 11.22% since the beginning of the year, while the S&P/ASX 200 Index has fallen roughly 2.02%. The CTM share price trades at $23.45, a gain of 34.16% in the last 12 months.
