Outlook: Standing firm
Hogg Robinson (HRG) is making good progress adjusting to a changing corporate travel market by addressing the cost base and strengthening its ability to serve the wider travel industry and expense sectors with an enhanced technology offering. Recent IMS confirmation of momentum after clear H215 recovery is encouraging, even if structural pressures persist. Despite marked outperformance since May’s results, the rating is low and strong cash generation backs a generous dividend policy.Hogg Robinson Group is a holding company. Co. is a global B2B services company focusing on travel, payments and expense management. Co. helps companies, governments and financial institutions manage and control their expenditure. Co. has two core activities: HRG, which is Co.'s global travel management business; and Fraedom, which is Co.'s FinTech business that provides cloud-based software to assist customers manage their payments and expense management needs.
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