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HRG ‘remains cautious’ despite ‘robust’ financial position

Hogg Robinson Group (HRG) reported a 6% rise in business travel transactions and a 1% increase in spending on a year ago in the four months to January.

However, corporate travel giant HRG put the underlying rise in spending higher at 4% given the strength of sterling.

The group reported a 2% decline in revenue year on year in the four months to the end of January, but in a trading statement said turnover was unchanged at constant currency levels.

HRG reported strong growth in domestic rail bookings, particularly in the UK, but described growth in air travel as slow.

The travel management company said: “While there are some indications that international air travel activity is beginning to re-emerge, growth continues to be slow,”.

Chief executive David Radcliffe said: “We remain cautious about the pace of recovery and will continue to focus on maintaining a cost base that is appropriate to the market backdrop.

“We expect to deliver a full-year performance in line with market expectations.HRG said its financial position remained “robust”.

“Although there continue to be ongoing uncertainties associated with the macroeconomic environment, the board expects HRG to deliver a full-year performance in line with market expectations,” the company said.

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