Hogg Robinson (HRG)

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A leading global B2B services company specialising in travel, payments and expense management.

23-Nov-2017 – 76.63p – £249.6m – PER 11.3

Interim Results For The 6 Months To End September 2017 – The Chief Exec is “delighted to see early and positive results from our new strategy for growth” – Revenue down 5%, PBT down 10% and EPSdown 6%.

Happy not to take part in this “growth strategy” where confidence is so high the Interim Dividend has been raised a whopping 6%. On a positive note the Pension Deficit is down to 10% to £243.5m which means its now actually less than 100% of the current Mkt Cap!

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