Stock data
| Market cap. | £195.8m |
| Last close | 63.25p |
| High / Low (52 weeks) | 68.5p / 40.5p |
| Stock market listing | FULL |
| Forecast net debt (£m) | 50 |
| Forecast gearing ratio (%) | 169 |
| Team | Consumer |
| Sector | Consumer Support Services |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 11.21 | 18.22 | 58.12 |
| Relative * | 6.1 | 11.55 | 64.14 |
* % Relative to local index
Other companies covered in sector
| Communisis | Empresaria |
| Healthcare Locums | Johnson Service Group |
| Management Consulting Group | Matchtech Group |
| MITIE | RWS Holdings |
| Slater & Gordon | St Ives |
| Tribal Group | Xchanging |
| Y/E Mar | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 326.8 | 44.5 | 28.4 | 6.33 | 10.0 | 5.3 |
| 2011A | 358.0 | 51.6 | 32.9 | 7.28 | 8.7 | 4.1 |
| 2012E | 378.0 | 57.9 | 36.6 | 8.03 | 7.9 | 3.9 |
| 2013E | 398.0 | 61.2 | 39.5 | 8.65 | 7.3 | 3.6 |
Last updated on 09/12/2011
Latest research
Hard to fault
Flash note | Consumer Support Services | 01/12/2011
Business as usual
Review | Consumer Support Services | 27/07/2011
Set fair
Flash note | Consumer Support Services | 26/05/2011
On the front foot
Outlook | Consumer Support Services | 14/03/2011
More good news
Flash note | Consumer Support Services | 16/02/2011
Travelling well
Flash note | Consumer Support Services | 30/11/2010
Strong start
Review | Consumer Support Services | 30/07/2010
Hidden value
Flash note | Consumer Support Services | 27/05/2010
Quietly confident
Flash note | Consumer Support Services | 17/02/2010
Tried and tested
Outlook | Consumer Support Services | 27/01/2010
Good show
Flash note | Consumer Support Services | 30/11/2009
Shaping up
Review | Consumer Support Services | 31/07/2009
Investment summary
Hogg Robinson continues to impress with excellent first-half results and a confident outlook statement. The company is in fine shape to face threatened headwinds and proved the resilience of corporate travel service earnings in the recession thanks to its predominantly managed income and strict cost control. Its rating remains undeservedly well below both market and sector. We are raising our current year PBT forecast by £0.8m owing to lower-than-expected interest costs.
Last updated on 09/12/2011
Industry outlook
Despite economic uncertainties, IATA has newly confirmed that "the trend in air travel is still upwards" even if a slowdown is in prospect. International air traffic was up by 5% in October (6% in the year to date). There is no strict correlation with premium traffic. Global lodging RevPAR forecasts remain cautiously positive.
Last updated on 09/12/2011
Key management
| John D Coombe, Chairman |
| David Radcliffe, CEO |
| Julian Steadman, FD |
Company address
| Global House, Victoria Street, Basingstoke, Hampshire RG21 3BT United Kingdom +44 (0) 1256 312 600 View website |
