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Corporate Travel Management posts profits of £39 million

Global company says new client wins and growth of existing accounts helped profits rise 41 per cent

Pictured: Jamie Pherous, founder and MD of CTM

Corporate Travel Management (CTM) has finished its strongest financial year to date, with pre-tax profits growing 41 per cent to reach £39.3 million.

The global company, which acquired UK-based Chambers Travel Group and its subsidiary Chambers Travel Events at the end of 2014, says 80 per cent of its profit growth has been a result of new client wins and growing existing accounts. It says it expects up to 30 per cent growth in pre-tax profits over the next 12 months.

CTM managing director and founder Jamie Pherous said: "Our business continues to strengthen its position, with record operating cash flow conversion of 120 per cent reflecting the success of the model despite significant expansion.

"This year’s financial results are a measure of our success in delivering for our clients; our global network provides benefits in technology, service, and scale, and we are winning and growing client accounts because of the recognition of our international capabilities."

Chambers Travel Group became the UK and European anchor for CTM, Australia's largest travel management company, in January 2015, following the £39 million acquisition.

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