Hogg Robinson Share Discussion Threads

[cockneyrebel] 16/2/2011 08:14

Great statement, fwd PE just 6 and a 3.5% yield.

Must get upgrades now imo.

CR

[jeff h] 16/2/2011 00:36

Singer Capital Markets maintained its "buy" rating for Hogg Robinson (HRG), the corporate travel services group, with an increased target price from 50p to 65p. The broker believes that the forthcoming interim management statement will prompt another round of earnings upgrades for the firm as trading conditions have been buoyant and the market has under-estimated the potential for margin recovery. In light of this, Singer has upgraded its earnings for 2011 and 2012 by 19% and 32%, respectively. Hogg shares rose 1p to 44.5p.

[cockneyrebel] 15/2/2011 14:30

"InterContinental Hotels Group Plc, the owner of the Holiday Inn brand, said profit rose 38 percent in 2010 as business travel recovered."

CR

[napoleon 14th] 11/2/2011 12:57

RNVO - GODDAM PHARMAS!

Wrong thread; would have been better to be in these!

[simon gordon] 11/2/2011 08:06

2008 press snippet:

Corporate travel group Hogg Robinson gained 3 to 62p even though Dutch rival BCD Travel dismissed speculation that it was mulling a bid. Beverweerd Investments, a vehicle controlled by John Fentener van Vlissingen, the Dutch billionaire who owns and chairs BCD, lifted its stake in Hogg Robinson to 10.1pc.

[cockneyrebel] 11/2/2011 07:19

Hmm, Wierd Beaver gonna make their move at last? Or made their move?

Was rather strange the way they released that holdings RNS that had no differences on it and that sudden buying right afterwards.

CR

[jeff h] 11/2/2011 01:14

By Neil Hume and Bryce Elder

Published: February 9 2011 21:03 | Last updated: February 10 2011 08:45

"..Corporate travel group Hogg Robinson climbed 7.9 per cent to 44½p on speculation of a takeover approach."

[cockneyrebel] 09/2/2011 15:36

On the up - a breakout and a PE of 6.6 for the current year looks just too good to resist I suspect.

CR

[cockneyrebel] 09/2/2011 13:42

Just making a major breakout this am:



CR

[cockneyrebel] 09/2/2011 10:16

Buyers here today, about to break out.

IMS statement due any day.

Surely business travel has picked up a lot I'd have thought.

CR

[cockneyrebel] 08/2/2011 12:59

Trading update within a week or so going by last years date.

CR

[jeff h] 04/2/2011 18:00

Yes, I thought that as well CR, can only assume it's something to do with:-

2. Reason for notification [Yes/No]

Other (please specify): Yes

5. Date of transaction

The change in the chain of control of undertakings took place on 01 February 2011.

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:

Boron Investments N.V. holds 100.00% of the voting rights of Boron Vredenburg
B.V.

Boron Vredenburg B.V. holds 50.61% of the voting rights of Beverweerd
Investments B.V.

Beverweerd now controlled by a different party then?

[cockneyrebel] 04/2/2011 17:31

Wierd Beaver out with a holding RNS at th close - not sure how that differes from their previous holding.

CR

[jeff h] 04/2/2011 09:48

...and a little more

Barclays reveals business travel staff amid job cuts
Tom Hall , 27 January 2011

Barclays UK, which yesterday (26 January) announced 1,000 job cuts, has revealed that two staff were appointed to work alongside Hogg Robinson Group (HRG) in a bid to cut its hotel and business travel spend.

Barclays, which made the recent cuts due to a decline in the "commercial viability" for its in-branch financial planning, formed the two roles – a dedicated business manager hotels and a hotel audit consultant – last year to analyse its global accomodation budget.

HRG already works with Barclays, reporting on information including key performance indicators using its HRG Reporting software, to make cost savings across the 40 countries the company regularly uses for business travel.

HRG commercial director Stewart Harvey said: "This is a great example of how sensible and practical management can save a large company hundreds of thousands of pounds in hotel costs. Average room rates have been reduced by steering business to preferred properties that are offering the best deals. In addition, new negotiated rates have often included extras such as free wi-fi, parking and discounts on food and beverage, all very much appreciated by Barclays' travelling employees."

A hotel audit consultant was appointed for pre-trip analysis. Barclays now plans to appoint a similar role in the Asia Pacific region.

"This appointment was done in partnership with HRG, so there is now a lot more continuity with our hotel programme," says Barclays' procurement manager for global travel services Michael Funnell. "For other companies considering making a similar appointment, I recommend that it has to be in close partnership. There is no benefit employing a business manager for hotels and letting them work in isolation."

[jeff h] 04/2/2011 09:44

A bit of news:-

Basingstoke-based international corporate travel company Hogg Robinson Group (HRG) has refinanced a £190m loan through a syndicate of global banks.

The deal was co-ordinated by HSBC's Thames Valley corporate banking team.

HSBC has a long-standing relationship with HRG, having been involved in a number of previous transactions. It also acted as joint mandated lead arrangers with Barclays Corporate and Lloyds. Nordea, SEB and AIB were also part of the syndicate.

Julian Steadman, group finance director at HRG, said: "This was an important refinancing and we were delighted to have a club of commercially-minded banks who appreciated the needs of our business.''

Mark Haines, HSBC's head of corporate banking in Thames Valley, said the "innovative" business had a strong management team, robust business model and ambitious growth plans.

Mike Morgan, Barclays corporate relationship director, said, "This is an excellent example of a number of global corporate banks working alongside a high profile, successful and growing multinational corporate to structure a syndicated loan."

[cockneyrebel] 31/1/2011 13:24

I see IMS statement was on Feb 17 last year, dunno where I got Jan from, think it was on Investorease.

Oh well, broke out recently and would expect these to be firm leading up to the trading statement imo.

CR

[cockneyrebel] 21/1/2011 12:43

Seen those buys today ahead of next week's trading update?

CR

[cockneyrebel] 17/1/2011 15:04

Cleanly broken out through the October 09 high, now making 2.5 year highs.

CR

[cockneyrebel] 12/1/2011 15:41

Edging through the 2009 high here.

CR

[isis] 09/1/2011 20:11

Buy Hogg Robinson (HRG) at 37.25p

Says The Small Cap Shares Team

Hogg Robinson (HRG) was originally tipped in the October 2010 issue of Small Cap Shares. Since then, the share price has increased by almost 38%! But with an attractive earnings multiple and improving conditions in the firm's markets, the team believes there is still further to go.

In the latest issue of Small Cap Shares, out this Thursday, the team will reveal 3 brand new recommendations like this on small cap companies they believe have fantastic potential, as well as providing updates on previously tipped stocks and lots more.

To see these brand new tips on the website next week, and receive the latest issue of the newsletter by first class post - join Small Cap Shares now.

The Business

Hogg Robinson is a specialist provider of outsourced travel services to multinational companies. It is entirely focussed on serving the requirements of corporate clients and provides a range of services designed to help multinationals reduce travel costs and to manage their complex requirements in a more efficient manner.

At present the business has over 5,000 employees located in 25 growth markets in North America, Europe and Asia-Pacific, from which it provides travel services to about 120 countries.

Revenues consist of fees paid by clients for the provision of services such as online booking tools, consulting services, events and meetings management, data analytics and traveller tracking facilities. These managed services are customised to each client's needs. For example, some companies require a dedicated team of its employees whereas others with less pressing needs can use the company's systems to book travel themselves or only use its consultancy or tracking services. All of these operations are conducted by the Corporate Travel Management division, which accounted for 97% of the £326.8 million of group turnover earned in the last financial year.

In addition, the group holds a 58% stake in Spendvision – a leading provider of expense management automation services. The division's services help clients manage employee-controlled expenditure made through the use of personal credit cards, expense forms or other means such as mobile phones or fuel cards. This division accounted for the remaining 3% of group revenues over the 2010 financial year.

Current Trading

Following a tough year to 31st March 2010, the firm's results for the six months to 30th September showed a significant improvement across all geographic regions as client confidence improved. Revenue for the period was £169.2 million, an increase of 9% on the same period a year earlier, and with a virtually flat cost base, this translated into a 104% increase in underlying pre-tax profit to £15.3 million. These figures came on the back of a 22% increase in client spend, while the client retention rate remained above 90%. Meanwhile, underlying earnings per share increased from 1.6p to 3.3p and management announced that it was upping the interim dividend payment by 25% to 0.5p.

Less encouraging was the increase in the company's pension deficit from £65.3 million at the 2009 year-end to £155.1 million in September 2010 due to a lower discount rate and higher inflation assumptions. Largely as a result of this, the group showed net liabilities of £16.2 million, compared to net assets of £0.7 million in March 2010 and £47.7 million in March 2009. Meanwhile, net debt as at 30th September 2010 stood at £85.8 million, down from £96 million a year earlier.

[cockneyrebel] 09/1/2011 15:40

no problem mikey_b - chart on a nice trend here imo.

A series of small legs up you would hope/expect the next leg up to break that previous big 40p high imo.

Interim Management Statement in Feb so there's a news point that should give HRG some attention imo.

CR

[mikey_b] 09/1/2011 11:14

Thanks for the tweet on this one CR. I took a (v)small SB as a result.

[cockneyrebel] 04/1/2011 15:16

testing the Oct 09 high here.

CR

[cockneyrebel] 30/12/2010 11:37

Picked up a few more today - on the crest of a breakout and a PE of 6 - way too cheap imo.

Tired of trying to get them on the orderbook - there's few sellers, which doesn't surprise me.

CR

[owenski] 01/12/2010 08:21

Edisons note is not comprehensive and does not cover the pension deficit which exceeds the m,cap of HRG, agree though that it's valuation 'appears' compelling. However the pension situation does remain an issue.