CTM Europe posts record first-half growth figures

News World
CTM Europe posts record first-half growth figures

Global travel management company CTM’s half yearly results show record revenue growth with its European operation, CTM Europe, the company’s top performing region, posting an underlying EBITDA of £7.29m, up 239% on the prior corresponding period.

The agency says the performance was underpinned by a combination of increased online business activity and strong client win rates.

Corporate Travel Management (CTM) managing director and founder Jamie Pherous said: “We remain focused on winning and retaining customers, driving internal automation and innovation, and ensuring high staff engagement and customer satisfaction.”

CTM Europe CEO Debbie Carling (pictured) described the level of growth in her region as “a fantastic result for the CTM Europe business and testament to the exceptional work of the team”.

“We expect further outperformance in the second half as we focus on delivering significant returns for our clients and our business,” she added.

CTM’s global operations recorded A$2.25bn (£1.27bn) in total transaction value, up 21%, with revenues up 15%. The performance was supported by a 16.6% rise in organic growth, contributing A$6.7m to the company’s profit growth.

“Our win and retention rates are at historically high levels, while our proven M&A strategy is also providing strong returns,” Pherous said. “We have delivered a great set of results despite ticket price decline affecting revenue and a negative foreign exchange rate impact.”

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