Sharp increase in revenue at Hogg Robinson Group
Revenue at business travel provider Hogg Robinson Group has increase ten per cent, to £187 million, in the six months to September 30th, according to the latest figures from the firm.
As a result, underlying operating profit margins were up from 11.5 per cent to 12.5 per cent, while net debt fell £16.9 million to £68.9 million over the period.
David Radcliffe, chief executive of Hogg Robinson Group, said: “The strong first-half performance continues the momentum we reported earlier in the year.
“This steady and consistent growth serves to highlight the strength of our business model, which is underpinned by our ability to help clients maximise the value of their corporate travel budgets.
“Our strong cash flow has reduced net debt over the last 12 months and recently we have reached a positive agreement with the UK pension trustees which provides greater certainty regarding funding.
“We remain mindful of prevailing macroeconomic uncertainty but have confidence that our compelling customer proposition, strong foundations and momentum will see HRG deliver a full year in line with expectations.”