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Corporate Travel Management reports record full-year profit

Corporate Travel Management (CTM) has reported its strongest-ever full year results.

The TMC said its figures had been driven by new client wins in all markets, and provided guidance of 23-30 per cent underlying EBITDA growth for the next 12 months.

CTM said its global operations continued to grow market share, with AUS$3.58 million (£2 million) in total transaction value and new regional account wins every four weeks delivering record profits in every region.

CTM’s underlying EBITDA was AUS$69.0m (£39.3 million) up 41 per cent on the prior year and is slightly above previous upgraded guidance of AUS$68.0m (£38.7 million).

CTM Managing Director and founder Jamie Pherous: “Our business continues to strengthen its position, with record operating cash flow conversion of 120 per cent reflecting the success of the model despite significant expansion.

“This year’s financial results are a measure of our success in delivering for our clients; our global network provides benefits in technology, service, and scale, and we are winning and growing client accounts because of the recognition of our international capabilities,” he said.

The TMC said new client wins and an increase in existing client accounts accounted for 80 per cent of profit growth.

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