Hogg Robinson Group Regulatory News (HRG)

29 Jan 2008 07:00

Hogg Robinson Group PLC29 January 2008 Hogg Robinson Group plc ("HRG", "the Company" or "the Group") INTERIM MANAGEMENT STATEMENT Hogg Robinson Group plc, the international corporate services company, issues today an Interim Management Statement covering the period from 1 October 2007 to 29 January 2008. On the new business front, a phased start-up of a number of recent new client contracts commenced during the period. In addition, Spendvision has recently signed a contract to provide, over time, Barclaycard Business customers with an integrated, all-in-one expense management system. On the management side, Julian Steadman joined HRG as the new Group Finance Director. Trading conditions have remained challenging since the half-year results announcement on 20 November 2007. As expected, HRG continues to experience somesoftening in demand in the SME and Events businesses. The corporate managed clients, which are HRG's core business, are increasingly seeking the Group's help to manage their costs, providing opportunities to demonstrate HRG's cost-saving and value-enhancing capabilities. David Radcliffe, Chief Executive Officer, said: "At this early stage of the important final quarter, the Group is trading in line with the Board's expectations and we continue to expect to deliver EBITA and revenue growth for the full year." -Ends- Enquiries Hogg Robinson Group +44 (0)1256 312 600Julian Steadman, Group Finance DirectorAngus Prentice, Head of Investor Relations Bell Pottinger Corporate & Financial +44 (0)20 7861 3232Mike Davies / Nick Lambert / Andrew Benbow This announcement may contain forward-looking statements with respect to certainof the plans and current goals and expectations relating to the future financialconditions, business performance and results of Hogg Robinson Group. By their nature, all forward-looking statements involve risk and uncertainty because theyrelate to future events and circumstances that are beyond the control of HRG, including amongst other things, HRG's future profitability, competition with themarkets in which the Company operates and its ability to retain existing clientsand win new clients, changes in economic conditions generally or in the travel and airline sectors, terrorist and geopolitical events, legislative and regulatory changes, the ability of its owned and licensed technology to continueto service developing demands, changes in taxation regimes, exchange rate fluctuations, and volatility in the Company's share price. As a result, HRG's actual future financial condition, business performance and results may differ materially from the plans, goals and expectations expressed or implied in theseforward-looking statements. HRG undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by applicable law and regulation (including the Listing Rules). No statement in this announcementis intended to be a profit forecast or be relied upon as a guide to future performance. Notes to Editors Hogg Robinson Group (HRG) is the award-winning international corporate services company. Founded in 1845, HRG has over 60 years specific corporate travel expertise. Its corporate services interests include wholly-owned or majority controlled corporate travel operations in 25 markets throughout Asia Pacific, Europe and North America. Supported by contracted partners, the HRG worldwide network now extends to over 100 countries. Totally committed to a value offering for clients, HRG offers a comprehensive range of corporate services which include Corporate Travel Management, Consulting, Expense Management, Events & Meetings Management, and Sports. www.hoggrobinsongroup.com This information is provided by RNS The company news service from the London Stock Exchange