CTM sees big earnings growth

Corporate Travel Management (CTM) has reported  solid earnings growth, with net profit increasing 12 per cent year-on-year.The global TMCTravel Management Company: An agency which manages business travel for a company. saw total transaction value increase 30 per cent to AUS$6.46 billion in the year ending 30 June, driven by market share gains in the US, Europe, Australia/New Zealand and Asia.Underlying earnings rose 20 per cent to $150.1 million – the top end of CTM’s guidance – while net profit grew to $86.2 million.The company saw particularly strong earnings growth in Asia, partly thanks to the acquisition of Hong Kong-based Lotus Travel Group Limited.