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

Company News

by Rachael Jones

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$15.660 -$0.567 -3.49%
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Last Updated: 20/02/2020 3:59 PM

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

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.