Business travel giant’s figures augur well for corporate sector
Monday, 25 May, 2011
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Hogg Robinson results today show a 36% increase in annual pre-tax profits and reveal a company buoyant about its trading this year.
The business travel giant said it had seen a healthy recovery in corporate travel in Asia Pacific, North America and Europe which lifted its figures.
Statutory pre-tax profit rose to £28.9m for the year ending March 31 compared with £21.2m the previous year. EBITDA before exceptional items rose to £51.6m from £44.5m. Revenue for the year gained 10% to £358m.
Chief executive David Radcliffe said: “I am delighted to report on another good year for HRG, which has been marked by strong growth in revenue and earnings and supported by a strong recovery in global business travel. In light of this performance the board has recommended a 25% increase in the dividend.
"We anticipate the positive momentum that we have seen in our markets to continue. We will continue to innovate and invest for the longer term, and expect to make further progress through the course of the year.”
by Dinah Hatch
Dinah
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