Double-digit growth in all markets with profitability up 70 percent over FY 2016
HH Global announced unaudited financial results for the final three months and full fiscal year ended March 31, 2017.
Fourth quarter 2017 highlights
- Revenue was £77.5 million in the fourth quarter, an increase of 30.6 percent compared with £59.3 million in the fourth quarter of FY 2016.
- Gross profit was £18.9 million, or 24.4 percent of gross revenue in the fourth quarter, a 58.1 percent increase compared to £12.0 million, or 20.2 percent of gross revenue, in the same period of last year.
- Non-GAAP adjusted EBITDA was £3.8 million in the fourth quarter, reflecting 164.8 percent growth as compared to £1.5 million in the fourth quarter of FY 2016.
Full fiscal year 2017 highlights
- Gross revenue was £290.2 million, an increase of 37.3 percent compared with £211.3 million in fiscal year 2016.
- Gross profit was £65.5 million, or 22.6 percent of gross revenue, an increase of 58.1 percent compared to fiscal year 2016.
- Non-GAAP adjusted EBITDA was £13.0 million, an increase of 70.7 percent compared to £7.6 million in fiscal year 2016.
- HH Global experienced double digit growth in revenue across all of its operating regions for the year, posting 40.9 percent, 39.0 percent, and 26.3 percent revenue growth in the EMEA, Americas, and Asia-Pacific regions respectively.
- HH Global signed new enterprise contracts with both new and existing clients in the last fiscal year with the collective total of approximately £80 million of annual gross revenue at full run rate.
- HH Global continued technology expansion and leadership by launching an enhanced Supplier Relationship Management (SRM) module that streamlines supplier management processes.
“These results are a testament to the continuing strength of the company and our exceptional growth curve,” said HH Global Chief Executive Officer Robert MacMillan. “We have recorded double-digit growth in all markets while increasing efficiency, growing profitability, and delivering real excellence in execution for clients. This success is the result of sustained efforts by our rapidly-growing team and the support of our outstanding global supply chain.”
Edward Parsons, Group Chief Financial Officer of HH Global, said, “Our year-end financial results set new records for our company. Looking into FY 2018, we are extraordinarily well positioned to continue at the growth rates we experienced last year.”