Corporate Travel Management Provided Clarification Regarding Media Report

  • Mar 26, 2019 AEDT
  • Team Kalkine
Corporate Travel Management Provided Clarification Regarding Media Report

Corporate Travel Management Limited (ASX: CTD) is primarily involved in providing innovative and cost-effective travel management solutions to the corporate market. Founded in 1994, the company has established itself as a leading travel management company in Australia.

On 26 March 2019, the company provided clarification regarding a media update in which the company confirmed that its Managing Director and Founder, Mr. Jamie Pherous has not sold any CTD shares and has no intention to do so. Mr. Jamie Pherous is going to lodge the appropriate paperwork and outstanding fees as a priority to seek reinstatement of his personal investment company.

On 26 March 2019, the company also published a notice regarding the change of Director’s Interest. In the notice, the company has informed that its Director Ewen Crouch has acquired 2,500 fully paid ordinary shares of the company on 25 March 2019 for a total consideration of $60,975 via on?market trade.

Recently on 22 March 2019, the company announced the retirement of Mr. Tony Bellas as Chairman, to be replaced in the role by Mr. Ewen Crouch, effective from 25 March 2019.

According to CTM Managing Director and founder Jamie Pherous, the management of the company is delighted to welcome Ewen as Chairman of CTM. He told that a director of Ewen’s calibre will be an asset to the company given his wealth of corporate knowledge and legal, governance and international experience.

In February 2019, the company announced its half-year results for FY 2019. For H1 FY19, the company reported Underlying EBITDA of $64.6 million which was 21% higher than the previous corresponding period (pcp), driven by strong organic growth and record client wins. Further, the company reported Total Transaction Value (TTV) (unaudited) of $2,951.5 million and revenue and other income of $212.2 million. The company’s Board declared a fully franked half-year dividend of 18.0 cents per share which has a Dividend ex-date of 7 March 2019, the Record date of 8 March 2019 and Payment date of 12 April 2019.

In its 25 years of experience, the company has established great relationships with its clients who trust in the company’s ability to look after them. The company is focused on executing its strategy to establish a global footprint and generate scale, creating opportunities for long-term, sustainable growth.

Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. At market close, CTD’s share price was at $24.730, up by 0.98% during the day’s trade with a market capitalization of ~$2.66 billion as on 26 March 2019. The counter opened the day at $24.420 and reached the day’s high of $24.770 and touched a day’s low of $24.280 with a daily volume of ~ 458,224. The stock has provided a year till date return of 15.03% & also posted returns of -19.04%, 14.92% & -11.68% over the past six months, three & one-months period respectively. It had a 52-week high price of $33.870 and touched 52 weeks low of $19.200, with an average volume of ~333,144.


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