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May 21, 2015
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UK: Hogg Robinson Group Sees £5m Drop in Pre-Tax Profits

Hogg Robinson Group has seen a £5m drop in pre-tax profits, but the firm insisted it was continuing to make progress with its strategic priorities.

Preliminary results for the year ended 31 March 2015 show profit before tax falling to £30.5m from £35.8m in 2014, a drop of 15 per cent year-on-year. Revenue has fallen to £330.1m, a 3 per cent fall from £340.8m in 2014. 

David Radcliffe, chief executive of Hogg Robinson Group plc, said that the profit fall reflected short-term challenges for which mitigating actions are ongoing.

He said: “We operate in an industry undergoing significant change, driven by new technologies. For our part, while the changes have created some short-term headwinds, we are well placed to capitalise on the opportunities that are also presented.  

“As we look ahead to the current financial year, we will continue to execute against our strategic priorities which provide a solid platform for accelerated growth.”

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