Corporate Travel (ASX:CTD) reports half year earnings

Company News

by Lauren Evans

Corporate Travel Management (ASX:CTD) reported its half year results for the six months ending December last year.

The travel booking company reported a net loss of $8.6 million for the half, narrowing from $36.4 million on the prior year period. Revenue more than doubled to $158.1 million from $56.5 million.

The company posted an underlying EBITDA $18.2 million, compared to a loss of $15.2 million on the prior year period. No dividend was declared.

“The strategic acquisitions we made during the pandemic have transformed CTM into a much larger business with greater exposure to the North America market which along with the UK market, is rebounding sharply,” said managing director Jamie Pherous.

“Revenue in North America is now above pre-CTM Covid levels shows, pointing to the potential of the business when the travel market fully recovers.”

Shares in Corporate Travel Management (ASX:CTD) are trading 6.7 per cent higher at $24.14. 
 

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