HRG has seen pre-tax profits rise by 18 per cent to £34.1 million during its last financial year.
The company, which now styles itself as a corporate services firm rather than a TMC, said that clients’ travel transaction had gone up by two per cent while spending increased by five per cent for the year ending in March 2012.
Overall revenue for HRG also rose by five per cent from £358 million in 2010/2011 to £374.2 million for 2011/12. Operating profit was up 14 per cent to £43.1 million year-on-year.
The company said it had benefited from picking up new clients during the year such as AIG, Allianz, CGI, Monitor and Posten Norge.
Chief executive David Radcliffe said: “We have continued to provide an excellent, tailored service to clients as we bring to bear the breadth of the group’s services and experience to help them gain better value from their travel expenditure.
“Given the obvious macroeconomic uncertainty, it is not surprising that our clients continue to show a cautious approach to their travel.
“Most recognise the need to travel as they pursue their growth objectives. However, a majority had two common objectives this year: to gain tighter control of their travel activity and to maximise the value of their travel-related expenditure.
HRG's UK business has been boosted by being one of the two TMCs to win the central government travel contract. It has also won contracts from major corporates such as AIG, BP, and Allianz in the UK.
"Our ongoing focus in the UK has been to deliver excellent service and value to our clients," added Radcliffe. "We have continued to improve our cost base during the year and further efficiencies continue to be evaluated."
Radcliffe said that the company would be increasing the dividend paid to shareholders to 2p per share, compared to the 1.5p paid last year.
“Since the year end, the group has continued to trade in line with our expectations and we are confident that our proven strategy, resilient business model, robust financial position and strong pipeline of new business opportunities will enable HRG to continue to make good progress in the year ahead,” added Radcliffe.