Results are the best in the company’s history
HH Global announced financial results for the three months ended December 2016.
- Revenue was £82.0 million in the third quarter, an increase of 42.7% compared with £57.5 million in the third quarter of FY 2016. Year-to-date revenue was £214.6 million, an increase of 40.5% compared with £152.8 million in the prior year period.
- Gross profit was £18.9 million, or 23.0% of gross revenue in the third quarter, a 63.3% increase compared to £11.6 million, or 20.1% of gross revenue, in the same period of last year. Year-to-date gross profit was £46.6 million, or 21.7% of gross revenue, an increase of 58.1% compared to the prior-year period.
- Non-GAAP adjusted EBITDA was £4.3 million in the third quarter, reflecting 44.5% growth as compared to £2.9 million in the third quarter of FY 2016. Year-to-date non-GAAP adjusted EBITDA was £9.2 million, an increase of 48.8% compared to £6.2 million in the same period of 2016.
- HH Global experienced double digit growth in revenue across all of its operating regions in Q3, posting 42.8%, 41.4%, and 46.6% revenue growth in the EMEA, Americas, and Asia Pacific regions respectively.
- HH Global won new enterprise clients during the quarter with a collective total of over £35 million of annual gross revenue at full-run rate, including new relationships with a global biotechnology company and large retailer in the United States, a global FMCG company in India, and a global beverage company in the Americas.
- In support of its expansion in Latin and South America, HH Global opened new entities in 4 countries, including Costa Rica, El Salvador, Guatemala and Honduras
- HH Global introduced a new business analytics module to its leading HHub technology platform that provides clients visibility into in all work in process as well as savings realised.
“We are pleased with our progress in all geographies in which we operate,” said Robert MacMillan, Group Chief Executive Officer of HH Global. “It is clear that our strategy to drive 100 percent organic growth through the delivery of innovative and sustainable solutions with a sound technology underpinning, is paying off. I am thrilled by the acceleration of new client adoption of our solutions and the outlook for HH Global.”
“Our third quarter financial results are the best in the company’s history, and demonstrate sales and operational improvements across the entirety of our business,” said Edward Parsons, Group Chief Financial Officer of HH Global. “We expect this trend to continue into the future.”