Record full year financial results have been reported by Corporate Travel Management.
The Australia-based travel management company saw underlying earnings [EBTTDA] grow by 41% year-on-year to A$69 million.
New client wins and an increase in existing client accounts accounted for 80% of profit growth.
CTM’s global operations continued to grow market share, with A$3.58 billion (£2 billion) in total transaction value representing a rise of 35% and new regional account wins every four weeks delivering record profits in every region.
The company, which handles clients out of 82 cities in 53 countries, provided guidance of 23-30% underlying EBITDA growth for the next 12 months.
Founder and managing director and founder, Jamie Pherous, said the past 12 months continued to show the value of a globally-focused travel management company that could weather challenges in individual markets, growing through local expertise and supported by business-wide technology innovations.
“Our business continues to strengthen its position, with record operating cash flow conversion of 120% reflecting the success of the model despite significant expansion,” he said.
“This year’s financial results are a measure of our success in delivering for our clients; our global network provides benefits in technology, service, and scale, and we are winning and growing client accounts because of the recognition of our international capabilities.”
He added: “Our scale means we are securing global and multi-region accounts that we would not have been considered for without the network we now have in place.
“We have prioritised the integration of our new acquisitions, including US-based Montrose Travel and Travizon Travel, and the growth in our earnings per share reflects our focus on delivering value during this expansion.
“Already we are seeing positive synergies from these new regions, and we have retained key staff and clients who are excited about working for, and with, a global, industry-leading business.”
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