Hogg Robinson sees signs of business air travel pick-up

13th Feb 2014 15:30

Business travel company Hogg Robinson said business travellers were starting to take more flights as the global economy recovered, but it stayed cautious.Hogg, which also specialises in expense and data management, said there were some signs that its clients were beginning to use international air travel again, but growth in the market remained slow.It said there had been strong growth in domestic rail bookings, particularly in the UK.Trading in the period from October 1st had been similar to the first half, with recovery in the UK and North America but generally weak markets elsewhere in Europe and in Asia.Revenue in the four months to the end of January fell 2% as the strength of the pound against all the major currencies in which Hogg Robinson trades took its toll. Client travel transactions were 6% higher while client spend rose 1%.Chief Executive David Radcliffe said: "Whilst we remain cautious about the pace of recovery and will continue to focus on maintaining a cost base appropriate to the market backdrop, we expect to deliver a full-year performance in line with market expectations."Shares in Hogg Robinson, which operates in more than 120 countries, rose 0.61% to 82.75p at 15:37 in London.PW