Financial highlights of the six months ended 30 June 2017
- Revenue for the period was up 20% on the same period in 2016, from €8.48 million to €10.17 million. There was an exceptional item of €2.87 million of revenue during the 6 months ending 30 June 2016 that did not recur during the 6 months ending 30 June 2017.
- The pre-tax result was a profit of €0.16 million for the period, compared with a profit of €1.04 million for the same period in 2016.
- EBITDA for the period was €1.75 million, compared with €3.30 million for the same period in 2016.
- Cash and cash equivalents increased by €0.10 million during the period to €4.74 million.
- The Company’s measure of adjusted operating profit showed a profit of €1.03 million for the period, compared to a profit of €1.99 million for the same period in 2016.
Gary Fry, Global Graphics CEO comments, “We are delighted with our top line growth and sustained profitability. We have achieved record revenues since my tenure without the impact of a single new large deal, which highlights the healthy performance of our underlying core business. It is also pleasing to note that we remain in a strong cash position.
“The Meteor Inkjet business is progressing well and the inkjet sector as a whole continues to show exciting growth. This acquisition is enabling us to deliver on our strategy to become the go-to player for high-speed inkjet OEMs across a broad range of sectors, such as industrial and functional printing. We have become an important player in the ecosystem because we offer printhead driver systems, software solutions, and the engineering capability to provide technology innovation.
“Our partnership with HYBRID Software is also progressing very well. HYBRID use the Harlequin RIP in their workflow product and there are now a number of systems in the field. We offer HYBRID labels and packaging software as a component in our Fundamentals digital front end.
“The second half of the year will see us exhibit at LabelExpo, the major international label exhibition. A number of OEMs in this segment are now using our solutions and we expect to be able to provide more detail in the next few months.”
About Global Graphics
Corporate Communications Director
Tel: +44 (0)1223 926489
Chief Financial Officer
Tel: +44 (0)1223 926472