Australian flights and corporate bookings business Corporate Travel Management Ltd (ASX: CTD) provided investors with a welcome trading update during the Morgans Queensland Conference on Wednesday.
In a presentation Corporate Travel Management’s CEO, Jamie Pherous, revealed the travel group is, “off to a strong start in FY19”.
What’s more, client wins are at record levels and the company’s recent decision to buy 75.1% of Hong Kong’s Lotus Travel, “is well progressed”.
In its 2018 financial year, Corporate Travel Management reported a 19% increase in customer transaction volume and set its earnings guidance (EBITDA) at between $144 million and $150 million, up between 15% and 20% on the prior year. (click here to learn what EBITDA means).
Based on consistent exchange rates and excluding any acquisitions, Mr Pherous said Corporate Travel Management expects underlying EBITDA in the range of $144 million and $150 million, effectively confirming prior guidance without the effect of Lotus.
The company expects to update investors at the Annual General Meeting (AGM) in October.
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