Hogg Robinson Group plc reported earnings before interest, taxation and amortization of £13.2 million (US$27.2 million) for the six months ended 30 September

, down from £15.1 million (US$31.2 million) a year earlier. Total revenue increased 3.5 percent to £154.4 million (US$318.6 million). Noting a "European restructuring program," tough comparisons to last year when the travel management company handled business in Europe related to the World Cup, and investments in North America infrastructure and recruitment, CEO David Radcliffe said the results reflected "good performance in a time of transition." He added that the company is "pretty confident that we must be gaining market share, particularly in our key driver markets." HRG also said "financial sector based clients" are looking to "cost saving travel policies" to mitigate high oil prices and "continued turbulence in the financial markets." The company added that it recently has observed "in some countries signs of softening in demand relating particularly to [small and medium enterprises] and events." HRG said it continues to explore additional acquisitions as "a key element of our strategy."