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How long can the 70 hold out, with the buying reccomendation form Hargreaves and loads of buys on the 70 mark we must be breaking through very soon, hopefully very soon and once through that level we should move in a straight upwards.

There is still the problem of the pension-fund deficit, which has reached an unwieldy £145m after record low interest rates saw the actuarial deficit rise by another £30m. Hogg is inviting deferred members, who represent 40 per cent of the liabilities, to transfer out of the scheme. This offer has just expired. The biggest external worries for Hogg are high oil prices and the impact of a slowdown in Europe. But the latest figures from the International Air Traffic Association (IATA) indicate that traffic is resilient. The IATA figures showed premium traffic within Europe - the best proxy for business travel - were flat in January, while, encouragingly, economy travel is still growing at 8 per cent. Share tip summary Besides, Hogg has proved resilient in past downturns and is making progress in reducing the burden of its debt and its pension-fund deficit. That might make it more attractive to its two major shareholders, the travel agent arm of Dubai-based Emirates airline and Dutch rival BCD, both of which own over 20 per cent of the equity. Despite that, the shares trade on 8 times forecast earnings, the dull rating associated with a conventional travel agent. Buy.

Not much happening here, koad s of tardes but all at the 70 mark,time we break through that. Somebody just sent me the weekly trade tips from Hargreaves Lansdowne, one of the biggest share brokers in the country and HRG is bing tipped. Time the world wakes up to this share and maybe give the kick up the backside to move us forward to 100: Recommendation type: Speculative John FicenecTrue, this may not be the best time to suggest buying shares in a travel agent, especially one such as Hogg Robinson, which generates two thirds of its revenue from Europe. But Hogg Robinson is not your standard travel agent. Besides, it's re-organising its pension fund and that may help make it more attractive to business rivals that already own big chunks of its equity. Hogg Robinson does corporate travel and that has some important differences from the standard package-holiday model. Hogg gets paid a flat fee for the number of executives it helps move around the world, whereas a standard travel agent works on a commission basis. When a recession bites, holiday makers cancel trips, or trade down from the Seychelles to Skegness, which hits your normal travel agent. For Hogg, the impact is less severe because it earns the same fee even if executives are flying economy instead of business class; as long as business people are still travelling, its revenue holds up. This was proven in 2008. Hogg's customer list is also resilient because it includes blue chip clients, such as Allianz and BMW; and its Chinese office recently won the Shanghai Volkswagen account. These contracts are typically for up to five years; client retention rates are over 90 per cent and big clients often stay for over 10 years. While holidays get cancelled in a recession, business still needs to press the flesh. HOGG ROBINSON (HRG) ORD PRICE: 70p MARKET VALUE: £217m TOUCH: 69.5-70p 12M HIGH: 72p LOW: 43p DIVIDEND YIELD: 2.9% PE RATIO: 8 NET ASSET VALUE: Negative NET DEBT: £68.9m Year to 31 Mar Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2009 351 15.4 2.4 1.2 2010 327 21.2 4.4 1.2 2011 358 28.9 6.3 1.5 2012* 375 36.8 7.8 1.8 2013* 396 39.7 8.7 2.0 % change +6 +8 +12 +11 NMS: 4,000 Matched Bargain Trading BETA: 0.7 * Collins Stewart estimates (profits & earnings not comparable with historic figures) In the current climate of corporate belt tightening, Hogg is also seeing growing demand for its bespoke expenses management system, Spendvision. Sales were up 18 per cent in the half-year to £7.1m and underlying profit was up by £500,000 to £900,000. An offer for Spendvision in March triggered Hogg to buy out the minority. True, Hogg's bosses don’t expect Spendvision to add to earnings until 2014, but its growth is exciting and it offers an additional sales channel for the core business.

Midas in mail in sunday who started tipping this at 30 says to take soem profits but holding on to the rest as there is more to come from this share. I guess he is right under normal circustances that when you have doubled up on a share you shoudl protect yourself and take profits. That decision is of coures up to everybody. The fact is that Midas who is extremely respected has taken a great interest in what is after all still a small share and still thinks that there is more to come in terms of growth here. For me the downside is so low risk that I am keeping all my profits in here and I am quite certain the will add further. I ma not one for guessing but my target is hitting 100 in the next 18-24 months and excellent dividends to boot.

Haev a look at this report if you have ever been interetsed in this share, tell you everything you need to know and concludes that is considerable upside to the share price: http://www.edisoninvestmentresearch.co.uk/researchreports/hogg290312outlook.pdf

I have never seen so many transactions one day, most of them small but wondering is somebody is quietly accumulating or what is goign on. Price solid on the 69 so still towards the highest for years. Couple of month till results, would like to see 75 by then.

Shot through 70, have not been here since July 07. not even dreaning of sellingnow below 100. This is sucha solid company growing steadily, keeping costs udner contril, holding on to their customer and making more and more money (and dividends). I am so gratfull that I found this share long time ago and was ready to buy a fair amount when it reached went down to 5 2-3 years ago.

and we are now on the 69 and I am getting excited.

Makes sense and can only be a good thing to be in full control. Spendvision should be making good money over coming years. Market seems to be taking the news wella nd we are getting close to the 70 p

I think you are right which is why DR got DNATA to buy into the cmpany to combat BCD, but everything has aprice and if hevis willing to pay for the shares then aging iagree with you, the price will shoot ahead.

Didnt see that and that is very interesting as they have been dormnat for some time and could have thought that they might not go for the takeover, but they are now only 5% away from having to make afull bid. By the way they are not cwt but bcd

Market down. Not a huge amount of volume but HRG made a very good move for us today. This share keeps giving and i am really excited about the next few months

For a company that has less than 10% of their shares in circulation we have seen huge volumes today. I am a bit disappointed that with all those buys we didnt see an even bigger move upwards but patience is a virtue and we are now back on the right track. Looking forward to seeing what tomorrow will bring

Looking great today,mwell predicted last nigh, somebody is attacking the shares, wonder if this is a concerted effort from one of the main shareholders, lets keep an eye out fro any annoucements. Otherwise as usual you are spot on with your industry analysis. I will be at itb in berlin next week so hopefully will pick up a bit on the trends. In the meantime lets move in on the 70s

300.000 bought at 63 and still the price dint move up, Games being played.

YOu are right, now back to where we were, but I think we are creating a base here, as we ahve now seen 2 attempts this week to force the price down and both have been quickly rejected. I think that promises well for the future.

this report backs up everything we have been saying, no reason whatsoever for price to fall, on the contrary: http://www.edisoninvestmentresearch.co.uk/researchreports/hoggFlash150212.pdf

even while writing the last post a 50.000 buy at 63 goes through, so hopefully people have now had time to read the statement properly

Management report out today. Everything on track with pervious forecasts in terms of results and HRG has a history of being conservative in their estimates, so as we are only 6 weeks away from year end we can be quite sure that we will see increasedprofits and dividends compared to last year. Other good news lies in the list of new clients and client retentions and they are careful not assessing the value of these, especially the Governmnet business. Finally they are continuing to work on their pensions deficit which is the biggest burden tehy are carrying around and the more they can get that down themore valuable the company will becoem. They have also managed to have 17 million average debt taht last year. Still we are seeing an immediate negative reaction in the market. The only part negative is that sales have not increased but the increased profit comes from a good hold on expenses which I cant see anything bad in. It is becoming more and more common to react negatively initially to any statements these days "buy on rumour, sell on fact" but let us keep a close eye on this. I reallythink that we now have confirmations of the reuslts taht have casued us to move up and that should casue the price to move up even further.

agree with you 100%, Somebody tried to press the price down yesterday but the buying pressure proved solid which was a very good sign. So few shares on circualtion, probably less than 10% and that often makes it difficult to get enough volume and push the price between the positive announcements but we should reach 80 at least this year and much more if the takeover battle commences.