Small drop in turnover for Hogg Robinson Group

Agency reports 'lower revenue from sales and marketing agreements' but overall profit remains healthy.

Agency Hogg Robinson Group plc (HRG) has reported a slight fall in turnover of £0.2m for the most recent financial year, ending March 2018.

Operating profit also fell by £1.6m from £7.1m in 2017 to £5.5m for 2018, but overall profit for the year was a healthy £98m after the company sold its stake in Fraedom Holdings Ltd to VISA International Holdings Ltd for £114.6m.

In directors statement on Companies House, HRG said: "Revenue has decreased by £0.2m to £35.5m, which is due to lower revenue from sales and marketing agreements."

In July, American Express GBT completed its acquisition of Hogg Robinson plc, with City AM valuing the takeover at £400m.

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