CORPORATE TRAVEL MANAGEMENT SOARS AHEAD
29 August 2011,
Corporate Travel Management (ASX:CTD) has reported a FY11 net profit of $8.56 million, representing a 158 per cent increase on fiscal 2010.
The corporate travel solutions company declared a total transaction value of $502.3 million, representing a 43 per cent jump on the previous financial year.
Managing director Jamie Pherous (pictured) says the results reflects new clients, retention of existing clients, scale and efficiencies – and increased revenue from the previous acquisitions of Travelcorp and Cavalier Travel.
“These factors will continue to be integral to CTM’s ongoing success and, with the recently announced acquisition of the Melbourne-based ETM Group, the company is well positioned to achieve continued growth across all of its business units,” says Pherous, in a statement to the ASX.
Key priorities for the next 12 months include developing client service innovations – and client-facing tools and solutions that build client relevance and new revenue streams.
“Looking ahead, client activity remains solid, which is consistent with both July 2011 and August 2011 trading slightly ahead of expectations,” says Pherous.
The company’s total transaction value experienced 44 per cent compound annual growth, while its earnings before interest, taxes, depreciation and amortisation was 48 per cent greater during the past five financial years.
A full-year dividend of 5 cents a share will be paid to shareholders on October 6.
Shares are trading at $1.90 per unit.
Read an in-depth interview with Pherous in the current edition of Brisbane Business New - out now in more than 500 newsagencies.