Corporate Travel Management (CTM) has set itself a course to double its business over the next five years, building on strong financial results for the 2024 Financial Year released today.
The company posted a 26% jump in Underlying Profit Before Tax to $156.7 million alongside a 21% improvement in Underlying EBITDA to $201.7 million.
This translates to a Net Profit After Tax of $113.3 million, with shareholders to receive an unfranked dividend of 12 cents per share, completing a full-year dividend of 29 cents per share.
The company pointed to a strong, debt-free balance sheet which remained intact despite spending $26.1 million in an on-market share repurchase scheme which began in Nov 2023 and has been extended to the end of Jun 2025.
In Australia and New Zealand, CTM reported $169.3 million in revenue and EBITDA of $44.9 million – both figures up 6% on the prior year.
The launch in the local market of its Sleep Space hotel booking engine earlier this year was credited as a major factor in the acceleration of revenue, along with a swag of returning clients and many new wins added to the books.
CTM said the strong performance of the new booking engine in this market gave it potential for rollout in other markets over the next financial year.
Corporate Travel Management Limited Managing Director, Jamie Pherous, said the company was leveraging Artificial Intelligence to enhance personalisation and drive further growth for new and existing clients moving forward.
“The introduction of sophisticated automation in service channels has become a necessity for any travel management company that seeks to provide customers with reliable, efficient and personalised 24/7 service,” Pherous wrote.
