Hogg Robinson reiterates full year guidance

In a trading update from 1 October to date, the corporate services company said its performance was broadly similar in the second half to that of the first half.

Revenue was unchanged at constant currency in the four months to the end of January compared to the same period a year earlier.

Growth in the North American market continued, however the group experienced some softness in parts of Europe.

“We continue to actively manage the business against the ongoing backdrop of a move to online adoption and strong competitor pricing, while ensuring that we continue to deliver excellent service to our existing clients at all times,” the company said in a statement.

“Our pipeline of new business opportunities remains strong and we see ample scope to grow our business profitably.”

Hogg added that its financial position remains “robust” and cash generation has remained “strong”.

Shares closed the day up 2.26% to 68p at 1721 GMT.