International print broker HH Global has increased its revenue and profit for the second quarter, while the Australian division has been incorporated into the global group.
Revenue was £79.9m in the second quarter, an increase of 12 per cent from its £71.3m result in the second quarter of FY 2017.
Marc Flior, country manager, Australia, HH Global says, “There was consistency in the regions in the APAC and Americas, so there has been growth across the regions in a similar level. In Australia as well as APAC it is slightly lower, but there has been a lot of investment in the business and new clients, and importation taking place.
“There is strong growth from the revenue perspective, and improving growth on a gross profit perspective over the second quarter, and that will continue to grow as our service offering expands and the volume of capacity in creative services and non-print continues to grow in Australia.
“From an HH Global perspective, there is a continued approach to grow and expand, and Australia is no different. That will be organically and potentially through acquisitions if opportunities come out, and the ability to round off our footprint will be critical, therefore we will continue to look at growing by bringing in high quality people, and from a multinational or national brand based clients.
“That is consistent regionally, and in Australia. We have a very specific strategy, and will continue to grow in 2018. We have some new clients in Australia coming online and are currently working on implementation in terms of that.
“We continue to invest in the Australian business, which will continue with the rollout of additionally services to current and new clients and additional quality people.
“One of the biggest focuses for us for our last quarter was in the creative service space, where you will see a substantial boost of our capabilities in Australia, and the same goes for New Zealand.”
Gross profit came in at £17.9m, 22.4 per cent of gross revenue in the second quarter, an 18.2 per cent increase compared to £15.1m, or 21.2 per cent of gross revenue, in the prior corresponding period (pcp).
Non-GAAP adjusted EBITDA was £3.3m in the second quarter, reflecting a 21.6 per cent growth from £2.7m in the pcp.
Robert MacMillan, CEO, HH Global says, “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.”
Edward Parsons, CFO, HH Global says, “Our second quarter financial results do not yet reflect the impact of our acquisition of PPM and yet are in-line with our expectations. We continue to be confident in our ability to deliver to our financial plans.”
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