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Second Quarter Fiscal Year 2018 Results Announced

Auteur: Mark Tiedens
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NEWS

Growth continues to exceed expectations

HH Global today announced financial results for the three months ended September 2017.  

Financial highlights

  • 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.

Business Highlights

  • 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.”

12 : Lloyds Banking Group shortlisted for World Procurement Award,Full Fiscal Year 2018 Results,Value through Ariba Network,Sunday Times HSBC International Track 200 list,New manager for Argentina,MacMillan quoted in InfoTrends,House of Commons speech,Sunday Times HSBC International Track 200,The Story of Parliament,Winner of Entrepreneur of the Year Award,10 Downing Street,Price appointed CEO Asia Pacific

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