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Second Quarter Fiscal Year 2019 Financial Results

Author: Mark Tiedens
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NEWS

Solid partnerships bolster continued growth

HH Global today announced unaudited financial results for the three months ended September 2018.

Second quarter 2019 highlights

  • Revenue was £92.4 million in the second quarter, an increase of 15.7% compared with £79.9 million in the second quarter of FY 2018.
  • Gross profit was £20.9 million, or 23.8% of gross revenue in the second quarter, a 16.8% increase compared to £17.9 million, or 23.9% of gross revenue, in the same period of last year.
  • Non-GAAP adjusted EBITDA was £3.7 million in the second quarter, reflecting 12.1% growth as compared to £3.3 million in the second quarter of FY 2018.

Business highlights

  • A three-year global partnership with Uber Technologies Inc. as their provider for print management, creative production, data management, and direct mail execution
  • A long-term partnership contract with Walmart China to provide photography, design, and production of catalogs across more than 430+ retail stores in China
  • Released enhancement to HHub e-Catalogue to support instant price generation for rapid ordering of configurable products.
  • A contract renewal with Post Office Ltd. (U.K.) to include marketing print, direct mail, and point of sale. The contract renewal, which includes the option for extension of the relationship, builds upon the success of a six-year partnership.

“We have achieved great momentum, said HH Global Chief Executive Officer Robert MacMillan. “Growth in all of our regions reflects the success of our solution with global 

brands. We are pleased with the key contract wins and renewals as they reflect the significant efforts of our growing team and broad supply base to assure excellence for our clients.”

“Our continued investment into our business for the long term is supporting our growth and hence our financial results,” said Edward Parsons, Group Chief Financial Officer of HH Global. “Our growth has put us in the great position to capitalize on opportunities for expansion throughout the balance of our Fiscal year.”