Underlying operating profits 20% to £23.4m with margins up 0ne percentage point at 12.5%.

CEO David Radcliffe said: "The strong first-half performance continues the momentum we reported earlier in the year.

"This steady and consistent growth serves to highlight the strength of our business model, which is underpinned by our ability to help clients maximise the value of their corporate travel budgets.

"Our strong cash flow has reduced net debt over the last 12 months and recently we have reached a positive agreement with the UK pension trustees which provides greater certainty regarding funding.

"We remain mindful of prevailing macroeconomic uncertainty but have confidence that our compelling customer proposition, strong foundations and momentum will see HRG deliver a full year in line with expectations."

At 2:23pm: (LON:HRG) share price was 0p at 54.5p