Wednesday, June 4, 2008
Certain stuff rolls down hills…….
Spending cuts hit corporate travel sector
Hogg Robinson, which specialises in corporate travel, warned today that market conditions remain tough as banks and other financial services firms cut back on travel spending. Annual profits at the world's fourth-largest corporate travel group were in line with City forecasts. Earnings before interest, tax and amortisation for the year to March 31 amounted to £40.3m, down from £44.1m the previous year which saw a one-off boost of £3.4m from the 2006 World Cup. The firm expects to deliver growth this year.
Posted by lvmreader @ 05:35 PM (458 views)
One thought on “Certain stuff rolls down hills…….”
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lvmreader says:
What this has got to do with house prices
If corporates are cutting back on travel, you can be sure that Joe Schmo will have to soon as well. Maybe in about 3 – 6 months he will be finding it hard enough to stay housed, fed, and heated. This is therefore a barometer of sentiment as a leading indicator.