Hogg Robinson Group client spending and booking volume in the six months through September both fell 8 percent versus the year-earlier period, - Business Travel News

Share this page

Business Travel Supplier Directory

Text size: A A A

NewsLog
RSS

November 29, 2012 - 01:45 PM ET

Hogg Robinson Group client spending and booking volume in the six months through September both fell 8 percent versus the year-earlier period, according to the travel management company. In North America, client transaction volume was flat but spending fell 4 percent. Looking ahead, "the general trend is that we don't expect transactions to fall as much as expenditure," chief executive David Radcliffe told The Beat. "We would expect continuing travel but more belt-tightening." HRG noted that during the past six months it has observed clients enforcing policy much more rigorously and stepping up pre-trip approval processes. The company's six-month results included a 10 percent drop in turnover versus the year-earlier period and a 7 percent decline in underlying profits before tax, to £17.3 million. However, operating profit margin improved to 13.4 percent from 12.5 percent thanks to lower costs achieved mainly by reducing headcount by 400 since September 2011.

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint

Leave your comment:

Comments

blog comments powered by Disqus
Related NewsLog
United Airlines invested $30 million in alternative energy developer Fulcrum BioEnergy,... read more »
U.S. hotels' May average daily rate increased 5 percent year over year to $120.64, according to STR.... read more »
Reserved occupancy at North American hotels for the second quarter of 2015 is up 1.3 percent from the same period last year,... read more »
U.S. carriers are matching the slight domestic fare increase Southwest Airlines implemented this week,... read more »
American Airlines and Qantas Airways will add service between the United States and Australia.... read more »
WestJet's 93.2 percent on-time arrival rate ranked it as May's most punctual major North American airline,... read more »
Global airline passenger miles in 2015 will increase 7 percent year over year, the largest increase in five years,... read more »
Starwood Hotels & Resorts Worldwide will launch Sheraton Grand,... read more »
Etihad Airways reported a 2014 net profit of $73 million, up from $48 million in 2013,... read more »
Reserved occupancy at North American hotels for the second quarter of 2015 is up 1.8 percent from the same period last year,... read more »
PricewaterhouseCoopers predicted that occupancy at U.S. hotels will reach 65.7 percent during 2015, a level not seen since 1981.... read more »