Ann: CTM RESPONSE TO VGI REPORT, page-11

Hi Peter,

Yes I believe it does.

from todays Chairman's address presentation:

CTD Statutory EPS growth since 2013 = 37% CAGR

FY19 EDITDA guidance tracking at higher end of range 15-20%

27% EBITDA growth In 2018 generated 34% underlying NPAT growth.

What is Flight Centre's growth?

For fun, I've been tracking the SP of CTD vs FLT since 16 December 2015

FLT 36.63

CTD 9.47

Howard from Team Invest on Your Money Your Call was bagging CTD as FLT was so much "cheaper".

Today will likely lower the price for CTD a fair bit, but still FLT's performance since then is so bad as it has much less growth.

FLT 47.35

CTD 27.64

I see CTD as a consistent grower in my portfolio like Visa and Mastercard (VG1 also holds MA as a long)