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Corporate Travel books 27% profit increase

Corporate Travel Management has booked a 27 per cent rise in half-year net profit to $38.8 million during a period in which it snapped up two smaller companies in Australia and Asia.

Total revenue for the six months to December 31 increased by 23 per cent to $212.2 million, and the Brisbane-based company said it was on track for the top end of its financial 2019 guidance.

CTM acquired SCT Travel Group, located in NSW, in July and attained the Hong Kong-headquartered business Lotus Travel Group in October.

Corporate Travel said SCT, also known as Platinum Travel Corporation, contributed a net profit after tax of $283,007 to the group up to December 31 while Lotus added $1.2 million to the company's bottom line.

"We remain focused on executing our strategy to establish a global footprint and generate scale, creating opportunities for long-term, sustainable growth," CTM managing director Jamie Pherous said.

The company, which provides travel advice, ticketing, booking, recommendations and travel management data to corporate clients, said revenue from Australia and New Zealand grew 15 per cent during the six months and it expected the region would be a significant contributor to the group's full-year profit.

CTM's shares have climbed higher since a 30 per cent drop in late October last year after hedge fund VGI Partners raised concerns about its accounting and disclosure.

CTM chares were trading 8.88 per cent higher at $27.35 at 1100 AEDT on Wednesday.

Corporate Travel declared a fully franked interim dividend of 18 cents a share, up three cents from the prior corresponding period.

CORPORATE TRAVEL H1 PROFIT LIFTS

* Half-year net profit up 27 pct to $38.8m

* Revenue up 23 pct to $212.2m

* Interim dividend up 3 cents to 18 cents per share, fully franked, from a year earlier