Ord Minnett has withdrawn its rating on Corporate Travel Management (CTM) due to the extended suspension of the company’s shares from trading. Prior to the suspension, Ord Minnett held a ‘hold’ recommendation on CTM shares. The analysts at Ord Minnett noted in a report to clients that the situation is expected to deteriorate further before any improvement occurs.
Corporate Travel Management remains suspended from trading on the ASX. The suspension is linked to the delayed release of the company’s financial accounts for the 2025 financial year. CTM has indicated that the release of these accounts is not expected within this calendar year, adding to the uncertainty surrounding the company’s financial standing.
Ord Minnett cited the lack of clarity regarding Corporate Travel Management’s financial position as a key factor in their decision. They also await further outcomes from the ongoing independent investigations being conducted by CTM UK. Corporate Travel Management specialises in managing travel programs for businesses and organisations, offering services such as booking flights, accommodations, and ground transportation.
Ord Minnett is an Australian stockbroking and financial advisory firm, providing services to private, institutional, and corporate clients. The firm has stated that they are closely monitoring the situation and will reassess their position as more information becomes available regarding CTM’s financial health and the results of the UK investigations.
