Record results for HH Global
Tuesday, May 22, 2018
HH Global has posted record financial results once more, with its full-year profits up by 11.7% and revenues up by 12.2%.
In the international BPO firm's unaudited figures for the year ended 31 March 2018, the Leatherhead-headquartered company recorded sales of £325.5m, up from £290m in 2017, and gross profit of £73.3m, up from £65.6m a year prior and resulting in a profit margin of 22.5%.
The company’s non-GAAP adjusted EBITDA was £13.4m, up 3% on the £13m figure recorded in 2017.
In the fourth quarter, the company achieved revenue of £76.9m, gross profit of £17.8m and non-GAAP adjusted EBITDA of £2.7m.
HH Global chief executive Robert MacMillan said the company’s future pipeline combined with new contracts won throughout the year “put us in a strong position for growth during our next fiscal year”.
During the year the company said it received commitments for expansion of existing or new enterprise contracts with the collective total of approximately £110m of annual gross revenue at full run rate.
The largest of these is an expansion of its print and premiums procurement services relationship with a global healthcare company to 29 countries throughout Latin America.
The company also won a number of awards, including the Amazon Growing Business ‘Business of the Year: Larger Company’ award, and the Edie Sustainability Leaders Award 2018 for ‘Sustainability Innovation: Standards, Systems and Software’.
HH Global group chief financial officer Edward Parsons said strong year-on-year growth continued in the company’s EMEA and North American businesses while investment during the year particularly continued in the APAC and LATAM regions, both of which are seeing “significant growth opportunities”.
He told PrintWeek: “We’ve just won a significant multi-country new client in Latin America that will be going live in the next 60 to 90 days and we’ve been investing in the infrastructure – people, offices and leadership – across our Latin America business.
“We are also quite close to a major win in Asia-Pacific, which would be transformative for the business in that region.”
Parsons attributed the company’s continued growth to various factors.
“I think it’s partly the culture that we’ve put in place in the business over the last three or four years, the quality of the people that we’re hiring at all levels, and our leadership – we’re very clear about our strategy, focused on achieving our business goals and single-minded about our organic growth, albeit we did a small opportunistic acquisition in the Netherlands late last year.”