Hogg Robinson reports seven per cent fall in revenue

The company that dates back more than 160 years said on Wednesday that travel bans on company employees had significantly added to their first quarter loss of seven per cent in revenue. The result in these circumstances has seen the company cut back on jobs and lower their spending.

“We are facing challenging comparatives in the first half given that the first half of last financial year preceded the start of the current global recession. We would also point out that the majority of the group’s earnings have traditionally come in the second half of the financial year,” said a spokesperson for Hogg Robinson.

The company went on to add they were not going to let standards slip just because they were tightening on spending and were still offering the same superior client service.

The corporate travel management and business consultancy are still expecting to meet their targets for the end of year finances. The first quarter also saw the company gain some valuable new clients in a government contract and another North American finance services company.

Hogg Robinson have been trading since 1845 and today own or controls travel services in the corporate market in over 25 markets across Europe, North America and the Asia Pacific regions.

Thanks to www.telegraph.co.uk for the above quote, for more details on this article please visit their website.