Distribution
Hogg Robinson Group for its fiscal year through March 31 reported a 16 percent jump in profit before tax to £38.2 million.
Total revenue climbed 5 percent year over year to £374.2 million, or up 2 percent at constant currency exchange rates. Client travel transaction volume increased 2 percent and client spending rose 5 percent. "During the first six months, we delivered very good growth despite the continuing macroeconomic uncertainty," according to chief executive David Radcliffe. "As expected, the second half was essentially flat when measured against more demanding year-on-year comparatives following our strong performance in the second half of last year." Radcliffe added that "given the obvious macroeconomic uncertainty, it is not surprising that our clients continue to show a cautious approach to their travel." HRG also indicated that more clients are considering "consolidation of travel management services through fewer locations."