H&H Group achieves robust double-digit top-line growth in the first half of 2023, setting the Group up for a positive growth outlook for the full year

LONDON, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Leading global family nutrition company, Health and Happiness (H&H) International Holdings Limited (HKSE: 1112), has announced its interim results for the six months ended 30 June 2023, delivering double-digit top-line growth to place the Group on a strong trajectory for the remainder of the year.

• The Group achieved revenue growth of 17.2% on a reported and like-for-like (“LFL”) basis and positive EBITDA margin across each of its three strategic business pillars, as well as healthy profitability and cash flow
• High-margin and fast-growing nutritional supplements across three business pillars have become the largest revenue contributor, making up 60.1% of the Group’s total revenue
• Adult Nutrition and Care (ANC) segment has now become the Group’s largest growth contributor delivering revenue growth of 43.2% on a LFL basis, led by a strong first half for Swisse which celebrated surpassing AUD$1billion in global sales¹
• Baby Nutrition and Care (BNC) segment confined to low single-digit sales decline (-2.1% on a LFL basis) amid strong market headwinds, partly offset by growth in Biostime paediatric probiotic and nutritional supplements
• Pet Nutrition and Care (PNC) segment delivered strong revenue growth of 21.4% on a LFL basis, with Zesty Paws officially recognised as the no.1 Brand of Pet Supplements in the US²
• The Group has further improved its net leverage to 3.40x (30 June 2023) and remains on track to deleverage its balance sheet in the coming years
• Furthered sustainability progress, including submitting science-based greenhouse gas (GHG) emissions reduction targets to the Science-Based Targets initiative (SBTi), to continue to drive long-term growth with impact
• Maintained stable dividend pay-out ratio of 50% consistent with the previous periods

The full media release can be viewed here.

^{1 Swisse, Total Net Revenue (Global), AUD, LTM 30 June 2023
2 Source Euromonitor International Limited; Pet Supplements category as per Passport Ecommerce. All channels included, excluding vets, value sales in RSP, more info at https://zestypaws.com/pages/claim}