The Sutton-headquartered business described the results as “real evidence in financial terms of the transformation of HH Global into a global marketing services company.”
Group sales (excluding postal charges) climbed 17.4% to £113.84m in the year to 31 March, while overseas sales excluding the UK and the rest of Europe jumped by almost 75% to £49.7m (2013: £28.4m).
As the firm’s international trade grew, UK sales declined by 20% to £25.9m.
Chief sales and marketing officer Tony Massey said: “We’ve finally broken through that £100m ceiling, having been close in the past couple of years.”
He added: “It’s always been Robert’s [MacMillan CEO] vision to build a global business since the MBO in 2003. It’s been a long and slow process but the organisation is reaching maturity.”
Global managing director Mike Perez, who joined in September 2011, is credited with driving growth in the key US market.
“Mike has the right skills and attitude to deliver growth and drive larger client opportunities. Our deal size is increasing and we are delivering significant growth within existing clients,” Massey added.
He said the firm’s investment in setting up operations in overseas markets was starting to pay dividends. It now has 23 legal entities in 31 countries, and operates on every continent.
“We have made significant investments in technology and back office to understand international commerce, and doing that is quite complex. Our point of difference is everything is 100% HH,” Massey said.
“We are very optimistic about the next few years.”
HH Global clients include Google, Estée Lauder and Siemens, and it recently sealed a three-year international print management deal with HSBC covering the Americas and Asia Pacific.
Group operating profit increased from £637,000 to £1.7m, and would have been £502,000 higher had it not been for an exceptional charge relating to “the last of the corporate governance issues arising pre-2009” that involved an overseas tax audit.
Finance director Andrew Lipinski said: “We now have lawyers and accountants in every market, and an in-house lawyer. That’s why it’s not easy for other people to expand internationally like this.”
“I think these are landmark results, we have effectively put the past to bed. I’m very encouraged by the growth, I believe it is a long-term trend.”
HH Global has also agreed a new $7.5m working capital facility with HSBC in the USA, and £2m facility in the UK.
Lipinski said the firm was “investing more of its cash resources in its creditors”.
“Our cashflow is less exciting these days. Our standard terms are 90 days and we pay twice a month.”
HH Global also received a Queen’s Award for International Trade earlier this year.
MacMillan hinted that further major deals were in the pipeline at the business.
