IMS confirmation of continued momentum after a clear H215 recovery is encouraging, even if structural pressures persist. Hogg Robinson (HRG) is responding well to a changing corporate travel market, with further good progress in ensuring a suitable cost base, while its enhanced technology offering strengthens its ability to serve the wider travel industry and expense sectors. Despite marked share price outperformance since May’s results, the rating is modest and cash generation (confirm
29 Jul 2015
Reassuring
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Reassuring
IMS confirmation of continued momentum after a clear H215 recovery is encouraging, even if structural pressures persist. Hogg Robinson (HRG) is responding well to a changing corporate travel market, with further good progress in ensuring a suitable cost base, while its enhanced technology offering strengthens its ability to serve the wider travel industry and expense sectors. Despite marked share price outperformance since May’s results, the rating is modest and cash generation (confirm