Corporate Travel Management (ASX:CTD) downgraded its fiscal year revenue and earnings outlook as ongoing trade uncertainties weighed on client activity, according to a Friday filing with the Australian bourse.
The company now expects revenue to be roughly 4% lower than forecast. This is seen to impact earnings before interest, taxes, depreciation, and amortization (EBITDA) by around AU$30 million relevant to previously announced target metrics, per the filing.
Rest of World ex Europe revenue and EBITDA are forecast to grow 5% and 10%, respectively, on the year-ago period.
The travel management services provider said ongoing trade uncertainties are crimping client activity, leading to weaker growth than previously expected during a traditionally busy season.
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