Hogg Robinson announces rise in profits

Thursday, 23 May, 2012 0

Hogg Robinson Group has announced a 33% increase in dividend payments following a 5% rise in revenue for the year.

Underlying pre-tax profits were up 16% to £38.2m and underlying earnings per share were up 14% to 8.3p.

Announcing the preliminary results for the year ended March 31, chief executive David Radcliffe said: "I am happy to report another strong set of results for HRG despite the continuing challenging economic conditions with underlying profit before tax up 16% to £38.2m.

"We have continued to provide an excellent, tailored service to clients as we bring to bear the breadth of the Group’s services and experience to help them gain better value from their travel expenditure.

"At the end of the year, we were very pleased to take full operational control of Spendvision, which improves our ability to offer clients integrated end-to-end travel and expense management solutions."

Client travel transactions were up 2% and spending was 5% up on last year.

"Since the year end the Group has continued to trade in line with our expectations and we are confident that our proven strategy, resilient business model, robust financial position and strong pipeline of new business opportunities will enable HRG to continue to make good progress in the year ahead," added Radcliffe.

By Linsey McNeill

Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk

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