Strong FY19 start for CTM

Travel Daily - - News -

COR­PO­RATE Travel Man­age­ment (CTM) yes­ter­day is­sued a trad­ing up­date, con­firm­ing it is ex­pect­ing its un­der­ly­ing profit for the cur­rent fi­nan­cial year to be as high as $150 mil­lion - an in­crease of 20% on 2017/18.

Speak­ing at an in­vestor con­fer­ence, Founder and MD Jamie Ph­er­ous noted that re­cent client wins were at “record lev­els,” while as­sump­tions about client ac­tiv­ity and for­eign ex­change rates “are prov­ing favourable to guid­ance”.

The fore­casts also ex­clude any fu­ture po­ten­tial ac­qui­si­tions, which are al­ways on the agenda.

Ph­er­ous said the com­pany had ex­pe­ri­enced a com­pound an­nual growth of 37% over the last five years, with re­cent achieve­ments in­clud­ing the set­tle­ment of the ac­qui­si­tion of Hong Kong-based Lo­tus Travel on 02 Oct.

CTM has al­ready ex­e­cuted a com­bined or­gan­i­sa­tional struc­ture and busi­ness plan for Lo­tus, with con­sol­i­da­tion of op­er­a­tions into a sin­gle Hong Kong lo­ca­tion be­fore Jun 2019.

The com­pany is also firmly fo­cused on tech­nol­ogy, with more than 100 full-time de­vel­op­ers in tech hubs in Syd­ney, the UK, Los An­ge­les & Hong Kong, work­ing to ac­cel­er­ate speed to mar­ket of tai­lored IT so­lu­tions to suit client needs in each re­gion.

Ph­er­ous noted that there were cur­rently over six mil­lion an­nual book­ings made via CTM- de­vel­oped on­line book­ing tools.

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