13th Feb 2015 07:00
13 February 2015
Hogg Robinson Group plc
('HRG', 'the Company' or 'the Group')
INTERIM MANAGEMENT STATEMENT
Hogg Robinson Group plc, the international corporate services company, today issues its second Interim Management Statement for the year ending 31 March 2015, covering the period from 1 October 2014 to date.
Current trading and outlook
The Board continues to believe that HRG will deliver a full-year performance in line with market expectations.
For the four months to end January, revenue was 2% lower (up 2% at constant currency) versus the prior year. Client travel transaction activity was higher by 6% while client spend was unchanged (up 4% at constant currency). Overall, the Group's trading environment has remained broadly similar in the second half of the financial year to date to that seen in the first half, with conditions for our markets in North America and the UK positive overall, while markets in Continental Europe and in Asia remain generally weak.
We are pleased to have welcomed a number of new clients to our portfolio during the period while extending our existing relationships with others, including the UK Government and Novartis. Following a retender process, we have renewed and widened the scope of our contract with Volkswagen Group in Europe.
David Radcliffe, Chief Executive of Hogg Robinson Group plc, commented:
"We continue to make good progress against our strategic priorities and are confident that the actions we are taking will improve our long-term competitiveness and position us to benefit from the changes taking place in our industry. We expect market conditions to remain similar for the remainder of the year and anticipate a full-year performance in line with market expectations."
- Ends -
Enquiries:
Hogg Robinson Group | +44 (0)1256 312 600 |
Philip Harrison, Group Finance Director | |
Angus Prentice, Head of Investor Relations | |
Tulchan Communications | +44 (0)20 7353 4200 |
Stephen Malthouse | |
Giles Kernick |
Notes to Editors
Hogg Robinson Group plc (HRG) is the award-winning international corporate services company. Established in 1845 and headquartered in Basingstoke, Hampshire, UK, HRG specialises in travel, expense and data management underpinned by proprietary technology. With a worldwide network that comprises over 120 countries, HRG provides unparalleled global expertise and local knowledge in Europe, North America, Asia Pacific, Africa, Latin America and MEWA. Read the latest HRG newsand search our archives.
www.hrgworldwide.com
Forward-looking statements
This announcement may contain forward-looking statements with respect to certain of the plans and current goals and expectations relating to the future financial conditions, business performance and results of Hogg Robinson Group. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that are beyond the control of HRG, including amongst other things, HRG's future profitability, competition with the markets in which the Company operates and its ability to retain existing clients and win new clients, changes in economic conditions generally or in the travel and airline sectors, terrorist and geopolitical events, legislative and regulatory changes, the ability of its owned and licensed technology to continue to service developing demands, changes in taxation regimes, exchange rate fluctuations, and volatility in the Company's share price. As a result, HRG's actual future financial condition, business performance and results may differ materially from the plans, goals and expectations expressed or implied in these forward-looking statements. HRG undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules). No statement in this announcement is intended to be a profit forecast or be relied upon as a guide to future performance.
The release, publication, transmission or distribution of this announcement in, into or from jurisdictions other than the United Kingdom may be restricted by laws and therefore persons in such jurisdictions into which this announcement is release, published, transmitted or distributed should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of such jurisdiction.
Related Shares:
Hogg Robinson Group