Business travel sales will remain under pressure, says HRG
Hogg Robinson Group is expecting business travel sales to ‘remain under pressure’ due to aggressive pricing from its competitors and the move by clients to online booking.
The group reported a 4% drop in revenue to £328.3 million for the financial year to March 31, with most of the decline driven by Europe and Asia Pacific.
But a strong performance from its Fraedom technology business helped it achieve a 15% increase in pre-tax profit to £26.7 million.
Chief executive David Radcliffe said: “Hogg Robinson Group made good progress during the year. Our Travel Management business, HRG, which helps clients optimise their travel spend, continues to leverage its technology and service delivery platform to offer clients a better travel experience whilst also maintaining our profitability.
"At the same time, Fraedom, our exciting technology business, is growing strongly, capturing the demand for disruptive technology in the SaaS areas of payments, expense and travel management."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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