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HRG half-year profits up 22%

Hogg Robinson Group (HRG) has announced pre-tax profits of £18.7 million for the first six months of this financial year (2012/12).

The figure represents a rise of 22 per cent from the £15.3 million reported for the same April to September period last year (2010/11).

The rise in profits comes against a background of increased travel transaction activity (up 7 per cent in the first six months of 2010/11) by clients.

HRG's clients also spent more year-on-year – the TMC reported a rise in spend of 9 per cent.

The growth in client spend and number of transactions did not reach 2010 levels, however, when both figures rose by 18 per cent on 2009/10 levels.

HRG's new clients during the period include AIG, Allianz, CGI, CSL, MMG and Posten Norge.

Despite uncertainty looking forward, David Radcliffe, HRG's CEO, said he is confident that HRG will deliver full-year profits.

“We remain mindful of prevailing macroeconomic uncertainty," he said, "but have confidence that our compelling customer proposition, strong foundations and momentum will see HRG deliver a full year in line with expectations.”

www.hrg.com

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