Corporate Travel Management (CTM) stated (17-Feb-2021) it is positioned to be a significantly larger business with higher earnings per share after the COVID19 pandemic, as a result of strategic acquisitions, organic growth and permanent cost reductions. Given continuing uncertainty regarding government travel restrictions and the efficacy of national coronavirus vaccination programmes, CTM will not provide earnings guidance for H2FY2021. The Group's Australia/New Zealand and Europe regions are expected to be profitable in H2FY2021. The drivers for the Group returning to profitability include:
- Australia and New Zealand domestic borders largely remaining open;
- Travel restrictions being relaxed as high risk segments of the population are fully vaccinated, particularly in the US and UK;
- A lower Group permanent cost base on return to a full run rate basis. [more - original PR]