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6 stories mentioning ASX:CTDUpdated 12m ago

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Asia

Corporate Travel Management Secures Services Contract From UK Ministry of Defense

Corporate Travel Management (ASX:CTD) secured a contract to continue providing accommodation and associated services in support of the UK Ministry of Defense's ongoing Afghan resettlement program, according to a Monday filing with the Australian bourse.The company expects to generate about 28 million pounds sterling of total transaction value during the first six months of the contract, it said, adding that revenue under the contract is volume-dependent.Corporate Travel Management has exclusively supplied the services since February 2025, and the new contract is expected to continue until the resettlement program concludes, per the filing.

ASX:CTD
Asia

Corporate Travel Management Appoints CEO

Corporate Travel Management (ASX:CTD) appointed Ana Pedersen as group chief executive, effective Thursday, according to a same-day Australian bourse filing.Pedersen has been serving as the company's acting group CEO since Feb. 2, the filing said.

ASX:CTD
Asia

Corporate Travel Management Chief Legal Officer to Resign

Corporate Travel Management (ASX:CTD) said Chief Legal Officer Shelley Sorrenson has provided notice of her resignation, effective Aug. 14, according to a Friday Australian bourse filing.

ASX:CTD
Asia

Corporate Travel Management Finalizes Agreements With Impacted UK Customers

Corporate Travel Management (ASX:CTD) is finalizing commercial agreements with affected customers in the UK regarding staged and orderly refund arrangements following a billing overcharge, according to a Thursday filing with the Australian bourse.The finalization and implementation of the UK remediation arrangements are subject to completion of the fiscal 2025 accounts, the filing said.The company expects its fiscal 2025 full-year and fiscal 2026 half-year financial statements to be lodged in August, per the filing.

ASX:CTD
Asia

Corporate Travel Management Documenting, Finalizing Refund Arrangements for UK Customers

Corporate Travel Management (ASX:CTD) said that it is in the final stages of documenting and finalizing commercial agreements with impacted customers in the UK in relation to staged and orderly refund arrangements, according to a Monday Australian bourse filing.It developed a funding plan to address the staged and orderly refund arrangements for affected UK customers. It added that it was in productive talks with lenders regarding the proposed customer arrangements and related funding requirements.In an earlier filing, the company said that it expects to reverse up to 118 million pounds sterling of revenue from fiscal year 2025 and prior years' results, after the company hired KPMG to perform a forensic accounting review for certain years, with KPMG identifying areas of concern regarding the recognition of the UK group's concluded customer contracts and other revenue.It is progressing toward the release of its audited fiscal 2025 financial statements and reviewed fiscal 2026 first half financial statements by June 30, and the reinstatement of its shares to trading on the ASX as soon as possible.

ASX:CTD
Asia

Corporate Travel Management Expects to Reverse Up to 118 Million Pounds Sterling of Revenue From Prior Results

Corporate Travel Management (ASX:CTD) now expects to reverse up to 118 million pounds sterling of revenue from fiscal year 2025 and prior years' results, up from a previously flagged amount of 77.6 million pounds sterling, according to a Wednesday filing with the Australian bourse.The development comes after the company hired KPMG to perform a forensic accounting review for certain years, with KPMG identifying areas of concern regarding the recognition of the UK group's concluded customer contracts and other revenue.The company said revenue of up to about 10 million pounds sterling may need to be reversed in the fiscal first-half results, depending on the outcome of commercial discussions with certain customers. The review confirmed that certain customers were charged above the contractual entitlement.Corporate Travel Management has made "significant changes" within its UK business, especially across financial controls and operational processes, it said, adding that the review has not identified any issues in other regions.The company aims to release audited fiscal year 2025 and reviewed fiscal first-half 2026 financial statements in the second quarter of the year.

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