CTM moves to new phase

CORPORATE Travel Management says it’s moving into “Phase 3” of its business plan, which will see the TMC optimise its global network “and grow a sustainable, long-term business”.

CEO Jamie Pherous detailed the company’s development today as he announced CTM’s annual results (TD breaking news), which saw the company report a 30% uplift in global TTV to $6.46b.

While statutory profit was up 12% to $86.2 million, he noted that the second half of the 18/19 financial year had been impacted by a “unique set of macroeconomic headwinds” which affected client activity in Europe (Brexit), Asia (Hong Kong unrest and the US/China trade war) and Australasia (Federal Election).

Pherous said the full-year result underscored the strength of CTM’s business model in variable market conditions, and also saw TTV exceed $1 billion in each region, driven by organic growth.

He also highlighted CTM’s strategy to develop customised technology hubs in each region, which had “allowed the company to significantly grow market share and increase productivity of its staff,” with revenue per employee up 30% on a cumulative basis since 2016.

In Australia, CTM is experiencing “slowing but steady client activity” post the election, with the company saying it is “well positioned to leverage industry change with its Qantas NDC capability”.

The company’s remuneration report indicated the top earner was Executive Director Laura Ruffles, who took home a total package worth $1.955 million.

Australia CEO Greg McCarthy’s remuneration was $612,000, just behind that of global CEO Jamie Pherous whose total package amounted to $643,000.