12.0% revenue and 21.6% EBITDA growth over same period last year
LONDON, Nov. 29, 2017 /CNW/ -- HH Global, the world's fastest-growing and most innovative marketing execution partner, today announced financial results for the three months ended September 2017.
Revenue was £79.9 million in the second quarter, an increase of 12.0% compared with £71.3 million in the second quarter of FY 2017.
Gross profit was £17.9 million, or 22.4% of gross revenue in the second quarter, a 18.2% increase compared to £15.1 million, or 21.2% of gross revenue, in the same period of last year.
Non-GAAP adjusted EBITDA was £3.3 million in the second quarter, reflecting 21.6% growth as compared to £2.7 million in the second quarter of FY 2017.
Recapitalised the business financed by Pricoa Capital Group, infusing capital to fund growth and acquisitions.
Completed acquisition of PostNL Print Management (PPM), the print management arm of the Dutch postal and logistic solutions provider, expanding our solution footprint in the Netherlands.
Received commitments for expansion of existing or new enterprise contracts during the quarter bringing the fiscal year-to-date cumulative total to more than £48 million of annual gross revenue at full run-rate.
"This was an exciting quarter for us," said Robert MacMillan, Group Chief Executive Officer of HH Global. "Our recapitalisation allowed us to quickly react to a market opportunity and acquire a regional business; expanding our position in Europe. Our organic growth continues to exceed our expectations -- we are pleased by our results."
"Our second quarter financial results do not yet reflect the impact of our acquisition of PPM and yet are in-line with our expectations," said Edward Parsons, Group Chief Financial Officer of HH Global. "We continue to be confident in our ability to deliver to our financial plans."
About HH Global HH Global Ltd., founded in 1991, is a leading, independent marketing execution partner to prominent brands in over 40 countries. The company offers innovative and tailored solutions for the outsourced procurement of all types of printed marketing materials, packaging, and creative production services, that drive down cost, speed time to market, improve quality, and increase sustainability. Every HH Global solution utilises HHub, a best-in-class marketing execution application, an expansive list of suppliers, proprietary processes, and the deep expertise of over 850 employees. The company also operates HH Labs, the centre of its innovation program, that brings fresh, new ideas to clients. With more than $500M in spend under management, HH Global maintains a razor-sharp focus on cost and quality, combined with an industry-leading sustainability program, offering improvements that provide both fiscal and environmental value. For more information, visit www.hhglobal.com.