Corporate Travel Management back in profit


Corporate Travel Management back in profit

Saturday, 17 Aug, 2022 0

Corporate Travel Management saw a boost in earnings in the final quarter of FY2022 and will pay out dividends for the first time since the coronavirus pandemic.

Brisbane-based CTM doubled total transaction value to $5.07 billion in FY22

Revenue has recovered to 69.5% of average pre-pandemic revenue.

It earned a $3.1 million net profit in the year to June 30 compared to last year’s loss of $55 million.

At 30 June 2022, it had no debt and $127 million corporate cash with strong operating cashflows.

Managing Director, Jamie Pherous, said, “Our customers are embracing the opportunity to return to face-to-face connectivity. The fourth quarter momentum makes us optimistic for the future.”

“CTM is a different business now. We are larger, more diverse and more relevant to our market globally.”

“Q4 was the first period, post delta and omicron, where travel restrictions were progressively lifted around the world,” Pherous added

CTM added 950 new employees during the financial year.

It has engaged in training, on-boarding and retention initiatives to attract and retain the best talent.



Related News Stories:  



 

profileimage

Ray Monty



Most Read

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges

Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail

Sophia Hyder Hock on Global Social Inclusion in Tourism
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true