Hogg Robinson lifts dividend despite testing year

Corporate travel services firm Hogg Robinson reported flat full year profit in what it described as a resilient performance in testing conditions.

Corporate travel services firm Hogg Robinson reported flat full year profit in what it described as a resilient performance in testing conditions.

The travel, expense and data management specialist booked pre-tax profit of £38.3m in the year ended March 31st 2013 from £38.2m a year earlier. Revenue fell to £343.2m from £374.2m before.

Operating profit rose to £48.8m from £47.2m while earnings per share increased 4% to 7.7p. The group increased its dividend payment to 2.1p from 2.0p a year earlier.

Chief Executive David Radcliffe said: "HRG delivered a resilient performance under testing conditions. We have remained focused on maintaining a cost base that is appropriate to the market backdrop."

"Notwithstanding our anticipation that trading conditions will remain tough during the current financial year, HRG has traded in line with our expectations since the year end and we expect to make further progress through the rest of the year."

CJ

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