Net profit after tax up 29% to $54.6 million.
Corporate Travel Management has just released its results for the year to 30 June, with “underlying EBITDA” up 43% to $98.6 million and the company’s statutory profit after tax up 29% to $54.6 million.
Total Transaction Value jumped 16% to $4.16 billion, with managing director Jamie Pherous saying “we have delivered another great result despite challenges in the global economy.
“Each region in our network grew significantly above market, demonstrating that our business model and strategic investment decisions are working well for our clients and investors,” he said.
Organic growth contributed about $16 million to the profit increase, while the integration of CTM’s string of international acquisitions continued successfully and recent additions including Tasmania’s Andrew Jones Travel bolstered the Group’s presence and scale.
The company is forecasting further growth, with full year underlying earnings for FY2018 expected to be in the range of $120-$125 million, an increase of 22-27.5%.
More details in today’s issue of Travel Daily.