MHA reports strong revenue, profit growth

(Sharecast News) - MHA reported strong revenue and profit growth for the year ended 31 March on Thursday, underpinned by expansion across all sectors and service lines, and completed shortly before its initial public offering in April.

Revenue rose 45% to £224.2m, with recurring fees accounting for around 87% of the total.

Adjusted EBITDA increased 32% to £41.1m, while adjusted profit before tax climbed 31% to £36.3m.

Cash conversion remained strong at 91%, with net cash of £17.7m at year-end, further boosted by £98m in gross proceeds from the IPO.

The AIM-traded group said it successfully integrated acquisitions made in the UK and Ireland during the year, while post-period it completed the purchase of Baker Tilly South-East Europe, extending its footprint into Cyprus, Greece and the wider region.

"These results reflect a year of strong progress for MHA, capped shortly after the period end by our successful IPO - a landmark moment for the firm," said chief executive Rakesh Shaunak.

"Performance in 2025 was strong across the board, with growth in every sector and service line and excellent cash generation.

"Since admission, we have acted decisively ... enhancing our market position and completing our first major international acquisition."

MHA said trading in the new financial year had started well, and remained on track to meet market expectations for the 2026 financial year, with demand for high-quality advisory services supported by increasing regulatory complexity.

At 1117 BST, shares in MHA were up 1.96% at 138.15p.

Reporting by Josh White for Sharecast.com.