Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Corporate Travel Management Ltd Makes Another Acquisition

ASX-listed travel heavyweight Corporate Travel Management Ltd (ASX: CTD) will acquire Queensland’s SCT Travel Group Pty Ltd and its founder, Greg McCarthy.

In an announcement to the ASX Tuesday morning, Corporate Travel Management said it will pay $5 million plus earn-outs to buy SCT Travel, which trades as Platinum Travel Corporation in Queensland.

Corporate Travel Management is a leading multi-billion dollar travel business operating in Australia, Asia and throughout the world.

The company says SCT is a good fit because it has cultural alignment and compliments Corporate Travel Management’s Events and small-medium business corporate strategy.

In addition, the takeover provides an opportunity to expand Corporate Travel’s executive team with SCT’s founder Greg McCarthy taking the reigns as CEO of Australia and New Zealand.

“Greg has an impeccable reputation in the travel industry and possesses leadership skills highly valued by CTM,” Corporate Travel Management’s announcement read. “Greg has had much success in the Australian corporate travel industry over three decades.”

In recent years, fellow ASX-listed travel company Flight Centre Travel Group Ltd (ASX: FLT) has also recognised the potential for growth in the corporate travel sector.

In Australia, Corporate Travel Management estimates the Australian and Kiwi markets are worth $7 billion, while Asia and North America are worth $US650 billion and $US350 billion, respectively.

Did you know it’s free to join The Rask Group’s Investor Club Newsletter? It’s a regular (usually weekly) news and educational update on financial markets, investing and unique strategies. Join today and get ready to laugh and learn.

Click here to join The Rask Group’s Investor Club Newsletter Today

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content