Hogg Robinson profit doubles as firms let execs travel again

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Last year it suffered as struggling firms imposed travel bans on executives.

But in the six months to October, more confident companies told their staff to get out their suit carriers again, helping the corporate travel agent enjoy a tripling of pre-tax profit to £13.3 million.

In line with news from British Airways, Hogg's chief executive David Radcliffe said there were "clear signs that the industry is improving".

He said every sector "from engineering and manufacturing to telecommunications, banking and pharmaceuticals" was travelling more, but added that Government departments are being "very cost aware".

Hogg Robinson said it had benefited from extra work after ash from Iceland's volcano led to mass cancellations in April, and also expects to do well from the travel havoc caused by today's snow too.

Radcliffe said: "We get paid for the activity that we do, and when snow causes disruption, we work harder at getting clients home or getting them out on business, and are paid accordingly."

Hogg raised its interim dividend by a quarter to 0.5p.