INTERIM MANAGEMENT STATEMENT: Performance in line with expectations, Healthy pipeline of opportunities
Hogg Robinson Group plc, the international corporate services company, today issues its second Interim Management Statement for the year ending 31 March 2016, covering the period from 1 October 2015 to date.
Current trading and outlook
Hogg Robinson Group has continued to trade in line with our expectations during the second half of the Company’s financial year to date. The Board continues to believe that the Company will deliver a full-year growth performance in line with market expectations.
For the four months to the end of January, revenue was unchanged at constant currency versus the prior year. 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. In particular, the North America market continues to show good momentum although we have experienced some softness in parts of Europe.
We continue to actively manage the business against the ongoing backdrop of a move to online adoption and strong competitor pricing, while ensuring that we continue to deliver excellent service to our existing clients at all times. Our pipeline of new business opportunities remains strong and we see ample scope to grow our business profitably.
The Company’s financial position remains robust and cash generation across the Group has remained strong through the period.
David Radcliffe, Chief Executive of Hogg Robinson Group plc, commented:
“We are pleased to report that our good first-half performance has continued and we remain on track to report a full-year growth performance in line with expectations. Against the backdrop of a changing market, we remain focused on executing against our strategy of growing our software-as-a-service business, Fraedom, and ensuring that we deliver excellent service to our travel clients. We are confident that Hogg Robinson is well placed to capitalise on the many opportunities in our markets.”
Hogg Robinson Group +44 (0)1256 312 600
Michele Maher, Chief Financial Officer Angus Prentice, Head of Investor Relations
– Ends –
Tulchan Communications +44 (0)20 7353 4200
Stephen Malthouse Giles Kernick
Notes to Editors
Hogg Robinson Group plc is an award-winning international corporate services company. Established in 1845 and headquartered in Basingstoke, Hampshire, UK, the Company specialises in travel, expense and data management underpinned by proprietary technology. With a worldwide network that comprises over 120 countries, the Company provides unparalleled global expertise and local knowledge in Europe, North America, Asia Pacific, Africa, Latin America and MEWA.
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 plc. 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 the Company, including amongst other things, the Company’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, the Company’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. The Company 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.Back to Press Releases