Great result, with strong guidance for FY 2023. 77% of travel managers expect their company will take more business trips in CY23. Source: Global Business Travel Association (GBTA) pulse survey January 2023. Domestic and International is booking transaction volumes, not TTV. " Client win pipelines at all-time highs with 97%+ client retention" All Regions have a positive outlook. For me patience will see $35. With $110 mil in the Bank and growing expect another acquisition. CTD buy businesses with good levels of TTV but poor conversion to Net Margin. CTD pay part cash and equity for a business. The business bought is a low PE business and CTD payment in equity is at a premium PE as CTD trades at high PE ratios. Effect is buy cheap and improve margins via CTD Tech and quality staff = super returns. CTD apply their tech to improve TTV/Revenue conversion. It worked pre covid and will work post covid.
CTD Price at posting:
$17.25 Sentiment: Buy Disclosure: Held
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