Despite the delay in release of FY25 results, the business has shared H1 FY26 numbers on time.
CTM has this morning released unaudited H1 FY26 results citing revenue and other income of $348.5 million and underlying EBITDA of $77.7million.
It also shared that cash at 31 Dec was $121.2 million (down from $124.0 million in Jun 2025), asserting it was reflective of the working capital impact of the revised IATA arrangements and a number of one-off costs.
The results statement said that, despite its auditing issues, CTM continued to win new business and registered client retention above 97%.
CTM reported that work on the UK forensic accounting review is approaching finalisation and completion was anticipated in Mar 2026.
It said it had identified a clearer path forward which included finalisation of a remediation plan with key impacted UK customers and recognition of associated liabilities to enable FY25 audited financial statements to be issued.
As part of the remediation program, key impacted customers have received payments totalling $15 million in December 2025.
More details in today’s issue of Travel Daily.