CTM FIRST QUARTER UP 37 PER CENT

CTM FIRST QUARTER UP 37 PER CENT

CORPORATE Travel Management (ASX:CTD) has posted total transaction value of $154.3 million for the July to September quarter, compared with $112.6 million in the same period last year, a 37 per cent increase.

The result does not include ETM contributions, which CTM acquired in October last year.

CTM managing director Jamie Pherous (pictured) says much of the growth is due to continued success in winning new clients combined with strong retention of existing clients.

“Client activity remains solid despite economic headwinds and profit contribution margins are in line with CTM expectations due to success in leveraging scalability in our cost base and systems without compromising service,” he says.

CTM shares remained steady this morning at $1.89.

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Top tips for successful digital transformation
Partner Content
Digital transformation, when done well, can transform your organisation's operation...
Advertisement

Related Stories

Early-stage funding hits record high as mega-deals drop off

Early-stage funding hits record high as mega-deals drop off

Despite venture capital funding falling by a third for Australian s...

The Star hit with two more shareholder class actions

The Star hit with two more shareholder class actions

Law firms Phi Finney McDonald and Shine Lawyers (ASX: SHJ) have ser...

Owner of Betty's Burgers, Boost Juice returns to Australian hands at $350m valuation

Owner of Betty's Burgers, Boost Juice returns to Australian hands at $350m valuation

The parent company of Boost Juice is set to return to Australian ha...

Emyria, Little Green Pharma shares spike after TGA green light for MDMA and psilocybin

Emyria, Little Green Pharma shares spike after TGA green light for MDMA and psilocybin

Alternative medicines stocks are on a tear today as investors take ...