Record profits for Corporate Travel Management
With its after tax profits growing by 158 percent in the year to 30 June 2011 compared to the previous year, Corporate Travel Management (CTM) has high hopes for the future.
CTM managing director Jamie Pherous announced the company has forecast a FY2012 EBITDA growth of between 30 and 40 percent, following the posting of CTM’s net profit after tax of AUD8.56 million FY2011.
Mr Pherous attributed the record profit and a Total Transaction Value of AUD502.3 million to, “CTM’s strong organic growth, its ability to leverage scale and efficiencies and its strong track record in transitioning acquisitions”.
“These factors will continue to be integral to CTM’s ongoing success,” Mr Pherous said.
According to Mr Pherous, looking forward CTM intend to continue to innovate for its clients, improve productivity and transition the newly acquired etm group “under one roof” to create “synergies”, particularly with the events division.
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Source = e-Travel Blackboard: G.A
