Australia's Corporate
Travel Management for the year ending June 30 reported a net profit after tax
of A$11.8 million (US$12 million), 43 percent higher than the previous year.
Fellow Australian travel company Flight Centre, a conglomerate that includes
the FCm Travel Solutions TMC, this week also posted a 43 percent jump in
overall net profit after tax.
CTM said underlying
earnings before interest, taxes, depreciation and amortization improved by 38 percent
to A$17.5 million (US$17.8 million). Total transaction value grew 36 percent to
A$681.3 million (US$692.1 million) and total revenue spiked 40 percent to
A$65.2 million (US$66.2 million).
"CTM's TTV growth
sees us continuing to outperform the market in comparison to recent airline
traffic data and the effects of broader economic conditions," according to
a statement from managing director Jamie Pherous. "Record new client wins
combined with a high client retention rate and our acquisition strategy have
contributed to CTM's continued success."
The company's fiscal
year 2013 EBITDA guidance calls for growth between 15 percent and 20 percent,
"subject to no further erosion in the broader economy."
CTM, which fields 590
staff in Australia, New Zealand and the United States, is a member of the
GlobalStar Travel Management network. GlobalStar executive director of
marketing and partner recruitment Mark van Iersel told BTN that the organization is "seeing more business
opportunities being initiated in Australia, for example in the mining industry.
One year ago we launched an expansion into Africa, and many of our partners in
the African continent are also benefitting from CTM's effective sales
organization."
Mark van Iersel
described CTM as "a dedicated, tier-one member—that's the highest-level
partnership in GlobalStar, and it means they are part of the board."
~ with reporting by Jay
Campbell