Corporate Travel Management (ASX:CTD) says the coronavirus immediate term impact for them is 'minor'

Company News

by Rachael Jones

Corporate Travel Management (ASX:CTD) has told the market it’s too early to say how damaging the coronavirus will be for business activity in China and specific implications for CTD’s overall revenue and profit.

They say however, the immediate term impact is minor due to a number of factors such as the lack of reliance on China by its three biggest profit contributors, and the outbreak coinciding with the timing of the lunar new year holiday.

All skeleton staff in Greater China not on leave have been advised to work from home. Management is monitoring the situation closely and, if necessary, will provide an update on the situation as part of its forthcoming H1 results announcement on 19 February 2020.

Shares in Corporate Travel Management (ASX:CTD) are trading 0.4 per cent higher at $18.85