JULIAN CATER | COLLINS STEWART
The four global players (including Hogg Robisnon) have only 18 per cent of the market, offering scope to gain share as clients look to consolidate their travel management providers. The net pension deficit reduced to £88.6m from £93.5m a year ago.
RICHARD FINCH | EDISON
I think Hogg Robinson has been spectacularly undervalued, having suffered in the downturn. The latest figures are very strong and the company has a very good management team. The shares have doubled in the last year and with business travel coming back we think there’s more to come.
CHARLES PICK | NUMIS
The business travel market is expected to grow at four to five per cent per annum for the next decade. Near term there should be slightly better top line growth for Hogg Robinson as some of its clients are spending more and corporate spending is still down on pre-recession levels.