Corporate Travel Management (CTM) has announced a further delay in the release of its full-year financial accounts. The company now expects to provide an update to shareholders in November, pushing back from the initial target date of September 25. Corporate Travel Management is a global provider of travel management solutions, offering services to corporate clients. It assists businesses with travel booking, expense management, and traveller safety.
The delay stems from ongoing issues identified by the company’s auditor concerning the timing of revenue and cost recognition within its European division. This matter, initially flagged in August, remains unresolved, prompting the extended timeline for the financial report. KPMG had been hired to review previous financial statements in the European division.
While the restatements are anticipated to increase prior-year earnings and reduce full-year earnings, Corporate Travel Management has emphasised that these adjustments will not affect the company’s cash position or its 2026 operations. The company’s cash balance remains robust at $126 million.
Trading in Corporate Travel Management shares has been halted since August 22, when the audit matter was initially disclosed, with the last traded price at $16.07. Shareholders await further updates from the company regarding the resolution of the audit issues and the eventual release of the full-year financial accounts.
