Corporate Travel Management - CTM’s stock remains slow despite posting strongest ever results

  • Aug 22, 2018 AEST
  • Team Kalkine
Corporate Travel Management - CTM’s stock remains slow despite posting strongest ever results

Australia-based travel services provider CTM today announced its full year results for the period ending 30 June 2018. Statutory net profit after tax moved up 41% to $76.7 million in fiscal 2018, reflecting organic growth by winning and retaining clients. Revenue and other income grew 14% and statutory EPS increased to 72.4 cents per share, up 35% in FY18.

Underlying Earnings before interest tax, depreciation and amortization increased by 27% to $125.4 million. Underlying Net profit after tax was $86 million excluding acquisitions and amortization.

Having a global footprint in travel services sector, CTM has posted underlying EBITDA of $34.2 million, $19.5 million, $44.0 million and $37.9 million in Europe, Asia, Australia &New Zealand, and North America, respectively. Europe has shown 86% improvement in earning reportedly due to CTM SMART technology suite and resulting move to on-line.

Final dividend of 21 cents per share, 50% franked was declared during the reporting period which makes company’s total dividend to 36 cents per share, up 20% in FY18. Final dividend is payable on 4 October 2018.

CTD share price has seen a needle change of 0.488% on ASX as the stock moved up trading at $30.870 on Wednesday, 22 August 2018.

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