Explanation of the share action from The Aus Business section below. My only comment: if disgraceful Star could bounce back +14% today, so a great company like CTD can do much better bouncing
Corporate Travel Management is among the biggest laggards following its half-year results after it missed analyst expectations.
The Brisbane-based group’s revenue soared 79 per cent to $291.9m over the six months to December 31 from a year earlier, resulting in more than a doubling of underlying earnings to $51.3m from $18.2m.
It also forecasted a sharp jump in annual underlying earnings following a 79 per cent jump in interim revenue, driving by a number of new clients as trading conditions improve.
RBC Capital Markets analyst Wei-Weng Chen said revenue and total transaction volumes were ahead of consensus, but EBITDA was below expectations.
"Taking an optimistic view, consensus for FY23 EBITDA is currently below the midpoint of CTD guidance, meaning downgrade risk is low. However, more pessimistically, guidance assumes a larger 2H skew to achieve as 1H was a miss," Mr Chen said.
(20min delay)