HRG expects full year performance 'to be in line with expectations'

HRG expects full year performance 'to be in line with expectations'

Business travel client transaction activity was up by 6% while spend was unchanged for the four months to the end of January, Hogg Robinson Group reported today.

Revenue was 2% down year-on-year but up 2% at constant currency, the travel management company said in an interim management statement.

HRG expects to deliver a full-year performance “in line with market expectations”.

The group's trading environment has remained broadly similar in the second half of the financial year to date to the first half.

HRG said that “conditions for our markets in North America and the UK positive overall, while markets in continental Europe and in Asia remain generally weak”.

A number of unnamed new clients have been added while existing relationships with others, including the UK government and Novartis, have been extended. A contract with Volkswagen Group in Europe has been renewed and widened following a retender.

HRG chief executive David Radcliffe said: "We continue to make good progress against our strategic priorities and are confident that the actions we are taking will improve our long-term competitiveness and position us to benefit from the changes taking place in our industry.

“We expect market conditions to remain similar for the remainder of the year and anticipate a full-year performance in line with market expectations."

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