The Leatherhead-headquartered business recorded sales of £132.5m in its unaudited results for the three-month period ended 31 December 2019, up from the £110.9m it achieved in the same period last year. Its year-to-date revenue, meanwhile, was also up 19.5%, from £291.5m at this stage a year ago to £347.9m.
Its net revenue was up 22.4% to £31.7m, from £25.9m in the same period last year, with year-to-date net revenue up by 28.8% year-on-year from £67.6m to £87.1m.
The firm's adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 15.9% to £8.7m, from £7.5m a year ago, while year-to-date adjusted EBITDA was up by 43.4% to £21.8m, from £15.2m in the same period a year ago.
The quarter saw HH Global close a strategic £100m minority stake investment by Blackstone Tactical Opportunities.
It also secured commitments in the period for enterprise contracts with the collective total of over £74m of annual gross revenue at full run rate, the largest of which included new agreements with a consumer products company in the APAC region, Co-op and Nisa in the UK, and GNC in the US.
Furthermore, the firm said it witnessed “accelerated adoption of its broader service offerings”, with approximately 75% of enterprise contract commitments including newer services, such as content development, customer experience, or promotional products procurement.
Finally, the period saw HH Global complete the full acquisition of Veriteva, which the company said it has renamed as HH Global Interactive to extend its full end-to-end data and digital marketing delivery capabilities to a broader set of client companies.
“This quarter was very exciting to us,” said HH Global chief executive officer Robert MacMillan.
“We received commitment and recently closed the transaction with Blackstone, putting us in a great position to continue growth both organically and by acquisition. Our core marketing materials outsourced procurement business continues to outperform that of our peers and our clients are starting to see real value from our new service lines.”
Group chief financial officer Edward Parsons added: “We set another company record across revenue, net revenue, and EBITDA. Forecasts for the remainder of our fiscal year are strong. We believe the growth trends established over the past year will continue for the foreseeable future.”
HH Global has also recently been awarded a multi-year contract by Wilko, covering print and related services. The business employs 1,300 staff worldwide and its clients include Google, HSBC, Pepsico, Procter & Gamble and Samsung.
