Business travel giant Hogg Robinson Group has reported promising trading in the second half of its financial year despite “strong competitor pricing”.
Issuing an interim management statement ahead of its year end on March 31, the firm says it is on track to deliver full-year growth performance in line with market expectations.
The travel management company reported “softness in parts of Europe”, and reported that the north American market “continues to show good momentum”.
It said that broadly second half trading has remained similar to that seen in the first half of the year.
In the statement, Hogg Robinson said: “We continue to actively manage the business against the ongoing backdrop of a move to online adoption and strong competitor pricing, while ensuring that we continue to deliver excellent service to our existing clients at all times.
“Our pipeline of new business opportunities remains strong and we see ample scope to grow our business profitably. The company’s financial position remains robust and cash generation across the group has remained strong through the period.
David Radcliffe, chief executive, said: “We are pleased to report that our good first-half performance has continued and we remain on track to report a full-year growth performance in line with expectations.
“Against the backdrop of a changing market, we remain focused on executing against our strategy of growing our software-as-a-service business, Fraedom, and ensuring that we deliver excellent service to our travel clients.
“We are confident that Hogg Robinson is well placed to capitalise on the many opportunities in our markets.”
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