CORPORATE TRAVEL STILL ON THE UP AND UP
26 August 2016, Written by Laura Daquino
CORPORATE Travel Management (ASX: CTD) is flying high today across all scores and delivering record profits, with investors seeing nothing but blue skies for the company.
"In fact, we have been winning a regional account every 4 weeks because of the CTM global network we have built.
"Most pleasing was the operating cash flow conversion, which was over 120 per cent during the year, reflecting the success of the business model despite significant expansion."
Australia and New Zealand are mature markets for CTM, and despite a decline in resource clients, the company here saw its underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rise 10 per cent to $28.3 million for the period.
"Everything we said would happen in the US, has happened," says Pherous.
"We won clients, had integration success, and the acquisition of Montrose in California has really helped them and helped us. We have the right shape, size and scale. We are in the game now in the States.