Corporate Travel reports profit jump

Company News

by Carolyn Herbert

Corporate Travel Management (ASX:CTD) has reported a 28 per cent jump in net profit to $22.1 million for H1 of 2017.

Revenue increased a similar amount, up 26 per cent to $150.5 million.

The company says that strong organic growth underpinned the company’s EBITDA performance, which increased 45 per cent to $40.4 million.

Corporate Travel Management also advises it is trading at the top end of underlying EBITDA guidance of $97 million for FY17, up 40.6 per cent on the previous corresponding period.

An interim, fully franked dividend of 12 cents was declared by the company.

 

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.