UK travel firm gets World Cup boost

Corporate travel firm Hogg Robinson posted a 28% rise in profits today after ferrying the England football team and their WAGS – wives and girlfriends - during the World Cup.

Hogg won a key contract with FIFA to provide travel for the teams taking part in the tournament in Germany as well as officials and dignitaries.

The London firm said the work helped boost underlying profits by 28% to £15.1m (€22.4m) in the six months to September 30.

However it warned that the increased security at airports across the UK following the terror scare in August damaged demand.

Thousands of flights were grounded and restrictions were placed on what passengers could take onto planes after an alleged plot involving transatlantic flights.

Hogg chief executive David Radcliffe said: “Hogg Robinson had a good first half underpinned by a contribution from the FIFA World Cup activity.

“Although, following enhanced security measures we witnessed a modest slowdown in demand for corporate travel in certain markets, we believe this will prove to have been temporary. We remain on track for the full year.”

Hogg shares fell 5% as investors banked profits following a strong run since it returned to the stock market in October. Its shares surged from 90p when it listed to as high as 105p last week.