Corporate Travel Management has postponed the release of its 2025 full-year earnings for the second time to allow time to resolve accounting issues in Europe.
The Australia-based travel management company had previously delayed the publication of its latest results from August to September while KPMG conducted a “detailed review” of the FY23-25 financial statements for the European region, but said the matter “remains unresolved”.
The statement continued: “Despite progress being made, it has become clear that the significant amount of work being undertaken by KPMG and management and the subsequent audit work required cannot be completed in time to finalise the financial report by 25 September 2025, as previously targeted. CTM expects to be in a position to provide a further update in November 2025.”
It means a mandatory suspension from trading on the Australian Stock Exchange will remain in place.
“CTM regrets the further delay and is working as expeditiously as possible to finalise the year-end processes,” CTM added.
The company confirmed a positive start to the full-year 2026 and strong operating cashflows in FY25 with “$124m of cash on the balance sheet and no debt at year end”.
“Operationally the business is performing as expected in all regions, with continued strong customer wins and further generation of incremental operating cashflows, consistent with this positive start,” it said.
