CTM FIRST QUARTER UP 37 PER CENT
20 October 2011,
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.