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If I was a disgruntled employee I guess I would have some pretty keen insight and my commentary should be highly regarded? Or I could somehow be knowledgeable about a contract going horribly wrong? All of what I have said is available in the media, just a matter of objectively connecting the dots. I'm not sure why anyone would think good ol' boys from the oil fields would want to deal with a UK company. I sort of understand why GOC dumped Amex for our colonizer. :) But really, this company from what I SEE is an operational cluster nightmare and senior management are content to cull assets to obfuscate their incompetence and keep their jobs. That's what really is scary. Hiding the enormity of the problem from the Treasury, the Treasury from Radcliffe et al. Sorry, I call the way I see. This company is twelve to eighteen months away from another worldwide recession at which time corporate travel will be back burnered forever in favour of ever-evolving technologies which render travel for the most part obsolete whether it is online booking or no longer the need to spend for face to face contact. It's bad. Really bad. Sorry.
I heard there was an HRG share chat going on over here at LSE and so I thought I’d join-up and come and take a look. Just to qualify myself in, I’ve been holding HRG (on and off) since 2007. I’m currently holding and very happy to do so. Reading through the posts, clearly there are some people here who seem determined to either attempt to damage the reputation of the company or make some amateurish attempt at trying to affect the share price. From my own experience Hogg Robinson is a first class company. Anyone who knows, works for, or is connected with the firm is probably feeling increasingly irritated about the inaccurate and false information being traded by some people on this thread. So, well done to Buller for standing up and speaking out. HRG has a fantastic book of business and seems to have been adding regularly with some impressive new business. These clients don’t sign up without taking suitable references and so clearly the true story is quite different from what some people on here have been saying. And so I just wanted to help correct the balance - and to show some respect for those of you who invest in, work for, or choose to follow and support this company. Well done and keep going !
That merger will take a long time to implement so initially I am sure the travel services will continue as agreed. In any business a merger is to be seen as an opportunity. Since hRG has a the best record in the industry in terms of retention it might very well be that serving BH well they could get more business form Haliburton after the merger. That is how I would look at the news. You seem to have it in for HRG which you are fully entitled to. I am just curious why. did you buy in too high and lose money on the share or if you name is anything to go by, were you one of the ones wholost the ir jobs due to the Canadaian government issues. if so I am sorry, I understand, if not I dont't as HRG has proven to be one of the best an d most consistent companies in the industry with stable profits, costs under control, stable well respected management and excellent dividends. Ithink the profit warning which was quite mild has caused an overreaction maybe because of the enormous rise of 1600% since the lows duing the recession. profit was taken from some of those who are sitting on substantial profits. However it is noticeable that not one of the institutions or major shareholders have sold so the fall has been on extremely low volume and I for one am buying at these levels
Hmmmm . . . i wonder what the Baker Hughes contract is worth now? I think HRG has been had.
3% rise on a handful of shares, today? C'mon.
You are indeed are correct. And in the cold light of day the harsh realities you set out here are a bitter pill not even this travel Company can swallow....Lessons need to be learnt that management fees are dead in the water, and that business needs to be flexible rather than shackled by high contract restraints. So many travel firms have done away with management fees, and by doing so it meets the needs to each of its accounts. Technology has always been an issue with this Company. It moves from brand to brand on its IT, and even the front line personnel feel the brunt of this approach. There are very few assets left now, and someone had better start looking in the mirror soon as I can see the white flag being held up if nothing is done to re-invent its status in an ever changing industry.
NATO? Kind of ironic since they are on the verge of and deliberately posturing to lose 50% of the GOC account which is the Department of National Defence. They are incitefully trying to shake free this huge part of the contract to mitigate crushing financial losses in Canada erroneously thinking that posturing themselves this way will posture themselves favourably for future litigation for Breach claiming the GOC provided inflated volume estimates. In actuality the GOC is sourcing travel arrangements outside of the contract due to HRG's abysmal inability to come even close to service levels based upon on technology that doesn't work layered with Band-Aid solutions that don't work amplified by a management team proven to be way out of their league interested only in shedding off assets which obfuscate their incompetence. http://ottawacitizen.com/news/local-news/not-the-ticket-travel-miscues-plague-government-workers
Not sure what you mean. if you have been trading for 45 years you would not rely on LSE for your trading prices, that was all I was saying. Your last sentence is cryptic, not sure who the boys are and what will change, but for now the HRG price has been very steady recently. Only time will show where the next move will come, my own belief is that the results will not be much different from previous years and there fore the price in my opinion should revert to the 70 p level. Lots of stirring in the industry at present and I doubt if HRG has not had a change of control within the next 12 months.
Percentages above may not mean anything??? Weird maybe I have been in the wrong business for the past 45 years...According to the boys on the floor things are really going to change, and only the bottom line percentage will count.
No. not a new drop, don trust the percentages above. The buy price has been since 43.75 and 44 since the bounce back when we briefly dipped below 40.
Seems there is yet another drop, and looking into this now. Hope this is a bad Monday feeling....
Some good news from the company this morning and we are slowly creeping up back through the 40's Hogg Robinson Group (HRG), the award-winning international corporate services company, has been awarded the contract to deliver global travel management services for NATO. The three year award is the culmination of an extensive bidding process and will involve a phased approach to service delivery. Phase 1 initially covers 11 NATO entities across five markets, with the option of 13 additional markets joining the framework at a later stage (Phase 2). Successful delivery of Phase 1 will serve as a stepping stone to secure Phase 2 business. NATO will deploy a range of Technology, including some of HRG’s proprietary products, such as HRG Insight, across its global entities. Mike Holmes, Worldwide Government Services Director for HRG, said: “This contract marks a true milestone in the way NATO has procured and managed travel services and all of us in HRG are truly delighted to be able to make today’s announcement. The tender process was extremely professional and thorough, enabling HRG to demonstrate its expertise and position as a world leading provider of corporate services to deliver the optimal service for NATO. “NATO has high expectations and has set us challenging targets which we are looking forward to achieving. HRG looks forward to providing NATO with an efficient and cost effective travel service that meets their specialist needs, while achieving savings and adding value across their entire travel programme.”
GoC, Travelocity service levels plummet further with escalating layoffs...hard to rationalize? Posturing to shed money-losing contracts and simultaneously experience industry humiliation due to inability to meet client expectations?
Under 40p back into the 30's now over 50% off this stock lost since July. I think things are more serious than we thought or is it on the back of the market falls and Ebola crisis.
Tuesday October 14 2014 Hogg Robinson Group (HRG), the award-winning international corporate services company, has been appointed by Baker Hughes – one of the world’s largest oilfield services companies - as the organisation’s global travel management partner. The award covers 60 markets including the UK and North America. David Radcliffe, HRG CEO comments: “We are truly delighted to have been appointed as Baker Hughes’s travel partner. It is always very satisfying to win new business, and being appointed by Baker Hughes is something we are all very proud of. They have exacting demands of their TMC and like many of our clients serviced by our specialist HRG oil and gas sector teams, their travellers have to operate in challenging and dangerous conditions and require multi-layered and dynamic travel arrangements.”
9million additional shares bought by aberforth. Adding to it's already substantial 35m A vote of confidence to aspire us ! Regards Rob
I am sure they will have a buyer for those shares already. HRG don't have many shares in circulation someone is getting this company on the cheap and maybe building behind the scenes.
Did anyone notice the 20 million dumped on Friday?
New low at 41p are we going to go under the 40p mark. The 3 month graph does not show good reading for HRG. If someone came in with an offer now they would be getting a good company very cheap.
seems to bring a new low. It is such a shame for HRG, I hope it does not go below 40p. I don't know if to buy now or sell out. I noticed DR bought some more shares on Tuesday which might be a good sign it is the second time he has made a purchase now at these levels. Interim results are not due till 26th November so going to be an interesting 7 weeks now.
Well, round of layoffs today at the CDN Gov't Contract, more end of October. Coincides with some significant market unrest, perhaps the first signs of some significant market retrenchment. This is a very bad cocktail, indeed.
It is not just the one account, I have heard rumors of others accounts. I do know about Bakers Hughes and I just hope they don't make the same mistakes with that as the Government of Canada. Hopefully the cost cutting has taken place and the year will end in line with expectations. I would hate for a competitor to buy this on the cheap, I am still looking and think this share is worth £1.I wish DR could put some confidence back into the market.
Thanks for sharing. I think we have to be a little careful about panicking and judging HRG on the basis of this one account. I actually don't believe they runa Ponzi like scheme fo service. Their reputation is still very high and they ahev one of the highest retention rates I have seen in the business. Rumours run very quickly in this industry and they would find it very difficult to win new business if it was as bad as it is said here. I have heard but not got confirmed that they have won the Bakers Hughes account from Amex which would be a very good boost. I also heard that they have made some reorganisation in Europe, laid some people in management off and bringing it all under the UK, not sure about that move, but at least cutting cost. Don't know if you can confirm any of this. id o think DR owes the market some explanation, hardly dare look at the price as the drop has been continuous, time for a rebounce? or maybe some of the competitors will realise that now is the time topounce to buy them out?
I just hope the bad start to the 2014/15 year is not a write off for HRG and they can pull it back. Operationally they need to sort this area out it is the most important area the client sees and feels. The next statement (which will be the half year one) hopefully will have something of an improvement in it. It did say in that note from DR to the staff that certain people have left their jobs so those savings will be reported over the year
Sorry, misplaced decimal point. Should not have been 100M loss. LOL.