Corporate Travel shares fall 80% after trading suspension
- Corporate Travel Management shares dropped 80.3% to $3.16 after resuming trading following a year-long suspension.
- The steep drop wiped out significant market valuation despite the company posting an $17.7 million statutory net profit for FY26.
- Management stated that the restated accounts and new $175 million funding package aim to stabilise the business after past accounting reviews.
Shares in Corporate Travel Management (ASX:CTD) fell 80.3% to $3.16 upon returning to the market following a year-long trading halt.
The sharp sell-off occurred after the business lodged its preliminary FY26 financial results, which showed a statutory net profit after tax of $17.7 million compared to a statutory net loss of $348.5 million in FY25.
"While our earnings remain below historical levels, and there is still work to do, FY26 demonstrates meaningful progress in stabilising the business, strengthening our foundations and positioning CTM for growth," said Corporate Travel Management CEO Ana Pedersen.
The underlying financial disclosures revealed that group revenue increased 4% to $669.9 million, alongside secondary costs related to customer remediation programmes.
The company stated that its newly secured $175 million committed funding package is expected to support ongoing operational requirements.
Following the announcement, the Corporate Travel Management share price was down at $2.87.
The group entered suspension in August 2025 after failing to submit mandatory periodic financial statements during an internal accounting review.
The investigation focused on past reporting practices in its UK operations and resulted in leadership changes, including the departure of former CEO Jamie Pherous.
