Corporate Travel Management’s ASX Return Delayed Until August
Synopsis
The travel services company expects to remain suspended from trading until at least August as it finalises FY25 and 1H26 accounts and completes remediation efforts linked to customer overcharging in its UK business.
Corporate Travel Management delayed results have caused the company's trading to be delayed on the ASX until at least August, following a delay since the results were released after accounting anomalies identified in its UK operations were revealed.
The travel management company noted that more time is needed to finalize audited FY25 financial statements and to analyse first half FY26 financial statement.
The report found the process of reporting remained associated with a UK customer remediation programme and auditing had still not been completed. It noted the reporting process remained connected to a UK customer remediation programme and auditing processes were still under way.
The revised timetable represents a further blow for investors awaiting further financial information from the group. Prior to the update, Corporate Travel Management stated its financial reporting activities would be completed this quarter.
Review of UK Operations Remains Ongoing
The reporting pause stems from an internal probe into instances of customer overcharging and issues relating to how it recognized revenue in its UK operations, which followed discovery of problems in that segment, leading to a wider examination of previous accounting.
The travel firm reported that prior period revenue reversals from the UK segment for previous periods and FY25 amounted to as much as A$118 million, with further adjustments for H1 FY26 not discounted.
Management reiterated that separate investigations had failed to turn up comparable accounting issues in other operations and that the firm continued to service both corporate and government clients across Australia, New Zealand, Europe, Asia and North America.
Liquidity Position Remains Stable
As at March 31, 2026, ATM reported that cash on hand, including restricted cash reserves, stood at approximately A$115.7 million, while also possessing a further A$75 million in undrawn debt facilities.
ATM said the overall cash cost of the UK remediation, once refunds have been made, tax effects applied, and the overall revenue reversal figure adjusted, was expected to be lower than the sum of those prior period and FY25 reversals.
The delay to financial reporting announcements come after ATM recorded adjusted EBITDA of A$201.7 million for FY24, alongside net profit after tax of A$113.3 million for that financial year.
ATM said it would provide further updates ahead of finalizing financial reports and resuming ASX trading.
Source: Capital Brief
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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