HH Global Announces Third Quarter Fiscal Year 2019 Financial Results
LONDON, March 6, 2019 /PRNewswire/ -- HH Global, the world's fastest-growing and most innovative marketing execution partner, today announced unaudited financial results for the three months ended December 2018.
Third quarter 2019 highlights
- Revenue was £110.9 million in the third quarter, an increase of 16.3% compared with £95.3 million in the third quarter of FY 2018.
- Gross profit was £25.9 million, or 23.3% of gross revenue in the third quarter, a 24.4% increase compared to £20.7 million, or 21.8% of gross revenue, in the same period of last year.
- Non-GAAP adjusted EBITDA was £7.5 million in the third quarter, reflecting 30.1% growth as compared to £5.7 million in the third quarter of FY 2018.
Business highlights
- A three-year partnership contract with JD Sports as their provider of marketing execution for their retail stores including point of sale for 12 countries in Europe as well as expansion into North America.
- Immediate delivery of results in the first full quarter of operations for Walmart China. The in-country team of 58 are delivering end-to-end services of creative production and print procurement including catalogue photography, design, production and distribution for 450 Walmart retail locations across China.
- Winner of two POPAI Awards including a Gold in the retail services category for work for Post Office (UK) and Bronze in the Signage, Decoration, and POP Outdoor - Permanent category for work for Bayer (Argentina).
- As the leader in sustainable marketing execution, HH Global became a signatory of the United Nations Global Compact - the world's largest corporate sustainability initiative. HH Global joins businesses that uphold responsibility for global operations that are harmonious towards the long-term good of the planet and that publicly report sustainability efforts.
HH Global Chief Executive Officer Robert MacMillan finds the results of the quarter a product of the year's momentum. "Growth throughout the business has been outstanding," stated MacMillan. "Our clients are benefiting from the expertise of our teams and their ability to deliver solutions. The commitment of our employees and versatility of our supply base allows us to lead in service excellence. Our recent acquisition of Veriteva, the investment company that owns the data-powered customer engagement business Blueberry Wave, is the next step in our growth strategy."
"Our position for the balance of the financial year is very positive," said Edward Parsons, Group Chief Financial Officer of HH Global. "The outlook remains favourable to capitalise on opportunities for investment and close the financial year on a positive trend. We aim to continue the current momentum we have into our next financial year, supported by a number of further new opportunities."
About HH Global
HH Global Ltd., founded in 1991, is a leading, independent marketing execution partner to prominent brands in 44 countries. The company offers innovative and tailored solutions for the outsourced procurement of all types of printed marketing materials and creative production services, that drive down cost, speed time to market, improve quality, and increase sustainability. Every HH Global solution utilizes HHub, a best-in-class marketing execution application, an expansive list of suppliers, proprietary processes, and the deep expertise of over 1000 employees. The company also operates HH Labs, the center 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.
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