Hogg Robinson Group saw pre-tax profits rise by almost a quarter to £6.1 million in the half year to September.
The business travel management company said it was planning for the “macroeconomic climate” to be even more challenging.
But the firm remained hopeful of finishing the financial year “within expectations”.
Chief executive David Radcliffe said: "Whilst we are by no means immune to the prevailing market conditions, the fundamentals of our business are sound.
“We are pleased to have delivered a modest increase in profits and are reassured by the fact that our clients continue to travel, albeit in many cases they are travelling differently. Our strategy is to manage the business based on a cautious outlook. We continue to reduce costs whilst being more focused than ever on delivering excellent client service.”
He added: We are pleased that we continue to win more business than we lose and that our pipeline remains encouraging.
“In the prevailing macroeconomic climate it is very difficult to predict with any certainty the outcome for the second half of our financial year.
“Nonetheless, given all that we can see currently in terms of workload, combined with the benefit of our cost and efficiency actions, we remain hopeful of finishing the year within current expectations."