Corporate Travel Management (CTM) says it is ready to move into the next phase of its five-year plan after reporting a 40 percent increase in total revenue for the 2011/12 financial year compared to the previous corresponding period.

Releasing its full year profit report this morning, CTM announced its total transaction value climbed by up to 36 percent year-on-year to $681.3 million while its underlying earnings before interest, taxes, depreciation and amortization (EBITDA) increased 38 percent to $17.51 million.

The company’s managing director Jamie Pherous said the “record year”, in terms of financial performance was produced by a combination of “outstanding service”, new business and improvement in internal productivity.

According to the head, acquiring ETM Travel and American-based, R&A Travel strengthened the Group’s position in Victoria and the US and created 25 percent more positions for “skilled talent”.

“The past year has been successful on all counts, with securing new clients wins and retention of current clients being consistent with past performance,” Mr Pherous explained.

“In addition there continues to be a focus on productivity efficiencies throughout the whole business, which enables further reinvestment in customer service platforms.”

Looking ahead, Mr Pherous said the company is aiming for a 15 to 20 percent growth in EBITDA over the financial year 2011/12, a growth expected to be achieved through continuous implementation of the Group’s five year plan.

As part of its Milestones to December 2014 targets, CTM said it is hoping to increase its global and regional clients across Australia, New Zealand, the USA, Asia and Europe while aspiring to become the alternative to global TMC’s.

Other objectives include continuation of aggressive international organic growth as well as a move to replicate its Australian model in the USA.