March 13, 2020 / 1:45 AM / in 16 days

BRIEF-Corporate Travel Management Suspends FY20 Earnings Guidance

March 13 (Reuters) - Corporate Travel Management Ltd :

* CTM SUSPENDS FY20 EARNINGS GUIDANCE

* SUSPENDED GUIDANCE FOR FY20 DUE TO INCREASED UNCERTAINTY SURROUNDING DURATION AND SEVERITY OF COVID-19

* IMPACT OF COVID-19 CURRENTLY BEING EXPERIENCED IS MORE SEVERE THAN OUR PREVIOUS ASSUMPTIONS

* NON-EXEC DIRECTORS & MANAGING DIRECTOR WILL TAKE 20% REDUCTION IN FEES & FIXED REMUNERATION RESPECTIVELY FOR REMAINDER FY

* FREEZE ON ALL NON-ESSENTIAL RECRUITMENT

* REDUCTION OF ALL DISCRETIONARY EXPENDITURE AND DELAYING NON-CLIENT FACING PROJECT WORK Source text for Eikon: Further company coverage:

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