Interim Management Statement

HOGG ROBINSON GROUP PLC - Interim Management Statement

PR Newswire

London, February 12

Hogg Robinson Group plc, the international corporate services company, todayissues its second Interim Management Statement for the year ending 31 March2013, covering the period from 1 October 2012 to date.

Group performance

The Group has continued to trade broadly in line with management expectationsduring the period since the announcement of the half-year results on 29November 2012. For the four months to end January, revenue declined by 7% (down6% at constant currency) versus the prior year. Client travel transactionactivity was lower by 2% while client spend fell by 3% (down 2% at constantcurrency).

We remain focused on maintaining a cost base that is appropriate to the marketbackdrop while ensuring that our usual high standard of client service is notcompromised.

Outlook

Despite the ongoing uncertainties associated with the macroeconomicenvironment, the Board believes HRG will continue to show resilience anddeliver a full-year performance broadly in line with market expectations.

David Radcliffe, Chief Executive of Hogg Robinson Group plc, commented:

"Whilst the market backdrop remains uncertain, Hogg Robinson continues to makeprogress as clients look to the Group for support in helping them to achievebest value from their travel budgets. Based on the performance to date and theongoing work to improve the efficiency of our operations, the Board continuesto believe that HRG will deliver a full-year performance broadly in line withexpectations."

Client activity

As anticipated, market conditions have remained challenging since our lastupdate at the end of November. Our clients have continued to seek further,incremental cost savings. This plays to HRG's strengths as clients place heavyreliance on our expertise and experience to help them maximise value from theirtravel and related expenditure while lowering aggregate spend. Increasingly,clients are seeking a more consultative approach to travel and expensemanagement, typically where HRG is rewarded with a share of costs saved ontheir behalf, and we welcome this emerging trend.

Financial position

The Group's financial position remains robust. Net debt rose year-on-year, asexpected. At 31 January 2013, net debt was approximately £9m higher than at thesame date last year, principally due to acquisitions made, including thepurchase of the remaining interest in Spendvision (£10m).

There have been no material adverse events or transactions that have impactedthe Group's financial position since 30 September 2012.

Hogg Robinson Group plc (HRG) is the award-winning international corporateservices company. Established in 1845 and headquartered in Basingstoke,Hampshire, UK, HRG specialises in travel, expense and data managementunderpinned by proprietary technology. With a worldwide network that comprisesover 120 countries, HRG provides unparalleled global expertise and localknowledge in Europe, North America, Asia Pacific, Africa, Latin America andMEWA. Read the latest HRG news and search our archives.

www.hrgworldwide.com

Forward-looking statements

This announcement may contain forward-looking statements with respect tocertain of the plans and current goals and expectations relating to the futurefinancial conditions, business performance and results of Hogg Robinson Group.By their nature, all forward-looking statements involve risk and uncertaintybecause they relate to future events and circumstances that are beyond thecontrol of HRG, including amongst other things, HRG's future profitability,competition with the markets in which the Company operates and its ability toretain existing clients and win new clients, changes in economic conditionsgenerally or in the travel and airline sectors, terrorist and geopoliticalevents, legislative and regulatory changes, the ability of its owned andlicensed technology to continue to service developing demands, changes intaxation regimes, exchange rate fluctuations, and volatility in the Company'sshare price. As a result, HRG's actual future financial condition, businessperformance and results may differ materially from the plans, goals andexpectations expressed or implied in these forward-looking statements. HRGundertakes no obligation to publicly update or revise forward-lookingstatements, except as may be required by applicable law and regulation(including the Listing Rules). No statement in this announcement is intended tobe 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 bylaws and therefore persons in such jurisdictions into which this announcementis release, published, transmitted or distributed should inform themselvesabout and observe such restrictions. Any failure to comply with therestrictions may constitute a violation of the securities laws of suchjurisdiction.