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Corporate Travel Management Ltd share price hits a 52-week high

In early afternoon trade the Corporate Travel Management Ltd (ASX: CTD) share price is up almost 3% to a 52-week high $23.89

This latest gain means that the travel management company’s shares have provided shareholders with a year-to-date return of over 30%.

Investors appear to have been impressed with the company’s strong performance this year.

This strong performance led to the company updating its full-year guidance in May.

Due to accelerated market share gains during the second-half of FY 2017, the company expects full-year underlying EBITDA to be a minimum of $97 million.

Previous full-year guidance given was for EBITDA between $92 million and $97 million.

If it delivers on its guidance it will mean an impressive 40.6% increase in EBITDA on the prior corresponding period.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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