Business travel specialist Hogg Robinson Group says there is little evidence to suggest business travel is reducing significantly, though companies are looking to cut costs with cheaper trips.
In its interim management statement, the company said demand for the first quarter of the year, from April to July 21, was in line with expectations. Client revenue was up about three per cent over the previous year, with the increase in business coming mainly from existing clients.
In its report, Hogg Robinson said: “Whilst we believe that it is prudent to remain cautious about the
outlook for managed travel this year, the longer-term trends remain relatively favourable.
“Our pipeline of new business prospects remains healthy although we again remain cautious about
the impact of general economic uncertainty on the timing of contractual decisions.â€
Chief Executive Davie Radcliffe added: "Despite the difficult economic environment,
at this early stage of the financial year the Group's trading has been satisfactory and we remain cautiously optimistic about our prospects for growth in the full year."
By Linsey McNeill
