The Corporate Travel Management Ltd (ASX: CTD) share price is up 3.4% to $24.97 today and is up 15% over the past month ahead of it handing in its interim profit report later this month.
Corporate Travel is forecasting underlying EBITDA growth in the region of 15%-20% over FY 2019 which would translate to a result between $144 million to $150 million.
On October 31 2018 the group told investors it was tracking towards the top end of this guidance ($150 million) and that the guidance was based on the Australian dollar buying US 76 cents on average over the year.
One reason the share price has climbed in recent weeks is due to the renewed weakness in the Australian dollar, with it buying just US 71.8 cents this afternoon.
Corporate Travel has advised investors that for every 1 cent movement in the Australian dollar lower its EBITDA should grow by around $1 million as it earns a lot of revenue and profit in North America.
The stock slumped around 30% over the end of October 2018 after a short seller published a report and sent it to the business media in a bid to force the share price down.
It's likely to be a closely watched result later this month thanks to the ongoing battle between the bulls and bears.
