CTM prepares for steep recovery path over the next 18 months.
Corporate Travel Management has posted a big surge in TTV, revenue and underlying EBITDA for the first half of the 2023 financial year, driven largely by “significant” transactions from new clients and resumed travel plans from its existing customer base.
The business has also presented a strong asset and cash position in its latest half-year presentation published this morning, with forecasts for the full year 2023 and 2024 periods suggesting strong growth in TTV and revenue.
Managing Director Jamie Pherous said it was a “pleasing result” for the company, which had previously made significant investments in staff to be in a position to take full advantage of the travel recovery.
More details in today’s issue of Travel Daily.