Hogg Robinson Group’s travel management business weakened in the second half of its financial year.
The business travel company, which is mid-way through a three-year restructuring, made the disclosure in a trading update today for the period from October.
This came as travel clients responded to the current broader economic uncertainty “and we saw the impact of client losses announced at the half year, as well as the continued move to online booking and ongoing strong competitive pressure”.
However, HRG said: “In spite of these challenges, we continue to expect HRG to deliver a full-year performance in line with expectations.”
Chief executive, David Radcliffe, said: “Against continued economic uncertainty, our ability to help our clients manage their costs effectively and maximise the value of their spend becomes ever more important.
“Our three-year restructuring programme is progressing well and we have continued our strategy of deploying our own technology across our businesses, as well as exploring ways to innovate around our client proposition.
“We continue to expect to deliver a full-year performance in line with expectations.”
Use of technology remains at the forefront of the business, including the introduction of a new travel app.
Revenue from HRG’s Fraedom technology arm grew year-on-year as a result of increased sales with existing and new clients “facilitated by the investment undertaken in the first half to support growth”.